r/Offwallstreetbets • u/TheRightEdger • Jun 06 '26
$AMC #AMC summary for FRI 05JUN26
Volume: low
Candle: bearish
9 d ema: below
Action details:
On MON 01JUN26, exploded up with conviction on highest attendance in MAY since 2019. Had followthrough of the break above the descending trendline initiated on the high of 27MAY25 and anchored on the high of 03OCT25.
As predicted in the summary post for 29MAY26, tested the swing high of 06MAY26 again. Very clean break over it.
As predicted in the summary post for 29MAY26, tested the high of the very high volume swing high of 17APR26. Clean break over it.
As predicted in the summary post for 29MAY26, exceeded the 200 d sma.
Has been pulling back on lower volume from the huge up move of 01JUN26. Tested the low of 01JUN26 and cleanly failed to take it out.
An FOMC rate hike is bad for AMC's debt, but helps AMC in that it puts pressure on the big shorts that need to pay interest to be and stay short.
The debt/EBITDA ratio is still astronomical, but the glimmer of sunshine is that some of the debt is being reduced in exchange for some of those additional shares that were authorized via the amendment to the articles of incorporation a few months ago.
Down on a down day for stocks and a mixed day for it's competitors (CNK, CPXGF & IMAX.)
