AMC Entertainment: ⬇️ Sell
– AMC Entertainment reversed from resistance level 2.92
– Likely to fall to support level 2.200
AMC Entertainment recently reversed down sharply from the major resistance level 2.92 (which stopped the previous sharp impulse wave 3 in July) intersecting with the upper daily Bollinger Band.
The downward reversal from the resistance level 2.92 created the daily Japanese candlesticks reversal pattern Long-legged Doji – which stands inside the daily Evening Star.
AMC Entertainment can be expected to fall further to the next support level 2.200, coinciding with the 61.8% Fibonacci correction of the upward impulse from July.