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What Are They Hiding? Institutions Are Trading A Ton Of AMC Entertainment Stock On The Dark Pool

Benzinga2021-09-21

(Update: Sept 21, 2021 at 11:06 a.m. ET)

AMC continue falling, it tumbled 6% in morning trading.

AMC Entertainment Holdings Inc shares are trading lower Monday amid overall market weakness as stocks across sectors fall on COVID-19 pandemic concerns and issues in China.

Investors might be interested in the fact that about 60% of the volume for the last 30 days has been traded by institutions over the dark pool, compared to 40% on lit markets, and with only 8% of that 40% being traded on the NYSE. According to Finviz.com, the percentage of shorts still in the stock is more than 20%, with a float of 448 million putting the amount of shorted shares at over 90 million.

AMC was down 8.85% at $40.29 on Monday at market close.

AMC Daily Chart Analysis

  • The stock looks to be attempting to bounce off support in what technical traders call a pennant pattern.
  • The stock saw a push higher and now is consolidating between narrowing highs and lows. It may continue to trade within the pattern of support and resistance until the stock sees an above-average volume day and can break out.
  • The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is likely facing a period of bullish sentiment.
  • Each of these moving averages may hold as a potential area of support in the future.
  • The Relative Strength Index (RSI) saw a slight dip Monday and now sits at 43. This means that the stock has seen slightly more selling pressure than buying pressure in the past few days.

What’s Next For AMC?

Bulls (or should I say apes) are looking to see the stock bounce off pattern support and continue to trade above it. If support can hold the stock may continue to rise to where bulls would like to see the stock break above pattern resistance and shoot higher. If shorts begin to cover their shares, the stock could see a short squeeze and a large bullish run.

Bears are looking to see the stock fall below pattern support in the next few days. If this pattern support is broken, there is always a chance the stock could see a further push downward.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment22

  • koolgal
    ·2021-09-25
    Calling all Apes to the rescue! Buy AMC! ?????
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    • koolgal
      Thanks ??
      2021-09-26
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    • JoeLeong
      [Strong][Strong]
      2021-09-25
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    • koolgal
      Yes! ??
      2021-09-25
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  • CCCH
    ·2021-09-23
    Yes, please drop further 
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  • SKuan
    ·2021-09-23
    Play with what you can afford to lose!
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  • JCKL488
    ·2021-09-22
    I’m afraid AMC has already gone to the moon and back ?
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  • Seaside
    ·2021-09-22
    Pls be careful. Trade with care . Good luck!. Rebound or drop further? 
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    • cutemiao
      Fully agreed.  Scary!!
      2021-09-22
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  • LennartM
    ·2021-09-22
    like pla
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  • sk5735
    ·2021-09-22
    Oh no
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  • TaiWoeiHaur
    ·2021-09-22
    Good morning. Pls like. 
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  • Patek1975
    ·2021-09-22
    Apes ? hold for the moon 
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  • Daveb
    ·2021-09-22
    HFs are ?$&@&d. This is their last attempt to drive GME and AMC down as millions of shares are now being Direct Registered which takes away HFs ability to manipulate our shares. Writing is on the wall. Hold tight friends, dont forget to buy the dips..???????
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  • Min_max
    ·2021-09-22
    the dark pool doesnt sound good
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  • Jj1985
    ·2021-09-21
    Down... Let the blood spill. These 2 months let it fall all the way... Correction is needed 
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    • MyGunner
      Indeed. September traditionally is always the bearish month.
      2021-09-22
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    • homosapien
      AMC falls to 28 during a normal trading day a month ago, this is peanut and apes are waiting to buy the dips...im not selling 1 share even at a high profits at this point. if you know you know.
      2021-09-22
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  • Yckit2000
    ·2021-09-21
    Hodl to the ? 
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  • Gabash
    ·2021-09-21
    Please up up up leh 
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  • Teddbeh
    ·2021-09-21
    [美金] [美金] [美金] 
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  • KHYAP
    ·2021-09-21
    ????
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    • SaveHK
      ?
      2021-09-21
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  • FunnyFun
    ·2021-09-21
    LIKE
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    • BallQoo
      [微笑]
      2021-09-21
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  • Tanjunkhim
    ·2021-09-21
    Ok
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  • 兔气扬眉
    ·2021-09-21
    Like
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  • Wanlin927
    ·2021-09-21
    Ya
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    • btoh
      ok
      2021-09-21
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