A Technical Look At AMC's Chart

AMC Entertainment Holdings Inc. AMC shares are trading higher on Tuesday after Wedbush analysts doubled their price target. AMC has also been high on the list for Reddit’s WallStreetBets crowd over the past month.

Here are some technical levels to watch on the chart:

The short-term 15-minute chart above shows shares have been trading in a channel over the past 10 days.

The bottom of the channel happens near the price of $7.50 as it's an area where the stock has been unable to break for an extended period of time.

The top of the channel is near the $11 level. The price has broken above this level shown on the chart but has never been able to hold the level.

The long-term daily chart above tells almost the same story as the short-term chart. The potential support and resistance levels are in the same places. The only thing added to the long-term chart is another possible level of support near the $5 level.

The $5 level has been support in the past, which could make it act as a support level in the future if the price falls to the level.

Bull Vs. Bear: A bullish technical trader would like to see a move over this level with a period of consolidation before the stock may have a further upward move.

See also: How to Buy AMC Stock

A bearish technical trader would like to see the stock fall to the support level and break below with some consolidation before a further downward move towards the second potential support level. This trader would also like to see the stock fall below the second support level with consolidation before more downward moves.

At publication time, AMC trades with a market cap of $3.14 billion and a public float of 285 million shares.