AMC BULLISH, ELLIOTT WAVE ANALYSIS

AMC looking to push upwards for a wave 5 in the future after some sideways consolidation for a wave 4. We are currently working on completing that wave 4 consolidation which could take some time, but overall looking for a high probability chance of pushing to the upside in the future.

Going to be looking to buy into calls to target this upside. Entry is set to be around the 0.5-0.618 fib retracement zones from 30-38.

Note that 4th waves can take time and can trap both bulls and bears, so be careful with the entry as the upside may not happen right away.