You Ask, We Analyze: AMC Entertainment, Vinco Ventures Stocks Rebound Into Bullish Pattern: What's Next?

On Sunday evening, Benzinga asked its followers on Twitter what they’re buying at the open on Monday. From the replies Benzinga selected one ticker for technical analysis.

Of the 91 followers who responded, 32 said they're buying AMC Entertainment Holdings, Inc AMC or Vinco Ventures, Inc BBIG.

AMC and Vinco Ventures trended across social media for all of 2021 and although the mentions have slowed, there remains a solid foundation of retail traders who stand behind the stocks.

On Feb. 9, Robinhood Markets, Inc HOOD chief brokerage officer Steve Quirk suggested stocks such as AMC and GameStop Corporation GME were a passing fad and said the stocks "aren't even on the top handful of names that are being traded right now."

The retail traders who are still holding stocks such as AMC and Vinco Ventures accumulate shares as opposed to trading the stocks, however, which may account for the lower volumes. As well, Quirk may be speaking to what he sees being the most actively traded stocks on the Robinhood platform and most traders and investors of AMC, Vinco Ventures and GameStop quit Robinhood last year after Robinhood restricted trading of a number of stocks.

Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial.

The AMC Chart: AMC reversed course into an uptrend on Jan. 28, after hitting a bottom at the $13.40 mark. The stock has since made a series of higher highs and higher lows, with the most recent higher low printed on Feb. 7 and Feb. 8 at the $14.65 level and the most recent higher high created at $20.96 on Thursday.

• On Friday, AMC printed an inside bar on the daily chart, which would usually indicate consolidation but due to the high-than-average volume over that day, it looks as though there was a battle between the bulls and the bears within a very tight trading range of just $1.33.

The inside bar leans bullish because AMC was trading higher before creating the pattern. Bulls and bears can watch for a break up or down from the inside bar on Monday.

• AMC has resistance above at $20.36 and $25.79 and support below at $17.07 and $14.34.

The Vinco Ventures Chart: Vinco Ventures began trading in an uptrend on Jan. 24 and like AMC has made a consistent series of higher highs and higher lows. Vinco Ventures' most recent higher high was formed on Friday at $3.83 and the most recent higher low of $2.95 was created on Feb. 8.

• Bullish traders will want to watch for Vinco Ventures to create another higher high over the coming days to confirm the uptrend is still intact, while not falling below the Feb. 8 low-of-day.
• Vinco Ventures has two gaps on its chart, with the first gap between $5.56 and $5.86 and the second between the $9.41 and $9.51 range. Gaps on charts fill about 90% of the time so it is likely the stock will trade back up into the ranges in the future.
• Vinco Ventures has resistance above at $3.56 and $4.06 and support below at $2.63 and $2.16.