$AMC Flag Breakout on Daily With High Acmltn PT $300+ Month TF
AMC Entertainment Holdings ($AMC) Has been making incredible strides these last few weeks. The company has incredible cash on hand and is in the process of a shareholder vote that began on June 16th and set to be held until July 28th.
Shareholders will have the option of voting yes or no on an issuance of 25 Million shares for improving the company financials and expanding its business.
As an Ape I will be voting yes as I want to help the company grow and I see this as a long term investment at this point with the amount of cash on hand the company currently has. I do believe the 25 million shares (If they even sell them and which can't be sold until January of 2022) will be a good fall back on if needed.
On the technical side the chart is showing a massive bullish flag formation on the daily which could see a breakout today or Monday. I do believe the share price will more than likely appreciate and break the pivotal $100 mark, after which point the sky is the limit as far as how high this could go. Hedge funds (The good ones not the short ones) Could be looking to buy up millions of shares in order to make a decent profit not to mention billionaires who are interested and vested in helping to squeeze shorts.
The short % on the stock is still relatively decent and I do believe a squeeze will send it sky high. Right now they are battling to keep it under $65 but the stock continues to creep upwards to breaking that level.
I think we have a good chance of seeing the $100 break early next week.
Overall Personal Price target is around $300+
Shareholders will have the option of voting yes or no on an issuance of 25 Million shares for improving the company financials and expanding its business.
As an Ape I will be voting yes as I want to help the company grow and I see this as a long term investment at this point with the amount of cash on hand the company currently has. I do believe the 25 million shares (If they even sell them and which can't be sold until January of 2022) will be a good fall back on if needed.
On the technical side the chart is showing a massive bullish flag formation on the daily which could see a breakout today or Monday. I do believe the share price will more than likely appreciate and break the pivotal $100 mark, after which point the sky is the limit as far as how high this could go. Hedge funds (The good ones not the short ones) Could be looking to buy up millions of shares in order to make a decent profit not to mention billionaires who are interested and vested in helping to squeeze shorts.
The short % on the stock is still relatively decent and I do believe a squeeze will send it sky high. Right now they are battling to keep it under $65 but the stock continues to creep upwards to breaking that level.
I think we have a good chance of seeing the $100 break early next week.
Overall Personal Price target is around $300+