APE this week
AMC/APE has their vote for a 1:1 conversion on Tuesday 3/14. All AMC and APE votes will be counted but due to the pending lawsuit only the AMC share count will be released to the public. If the vote for conversion and reverse split with AMC shares only is a Yes vote to both then the lawsuit will essentially be null and void.
If this happens the APE price by Wednesday at open will imo will at least get to the neckline of the Inverse H&S at $3.50. I believe as soon as the dismissal of the then defunct lawsuit is announced the target for the pattern of ~$6.35 will be hit shortly after as long as AMC does not crater with the announcement. In that case I expect both to converge in the $4-5 range while awaiting the conversion and reverse split.
If the initial vote with AMC only shares is a no then I expect APE to go towards $1.20 support with a massive upwards move on AMC. I find this scenario much less likely.
Looking at the APE chart there are so many indicators pointing to the 3.50 target. Bullish divergence on RSI and volume, the shoulders at near an identical level, RSI very oversold etc.
Not financial advice but a lot of money to be made with minimal risk here.
If this happens the APE price by Wednesday at open will imo will at least get to the neckline of the Inverse H&S at $3.50. I believe as soon as the dismissal of the then defunct lawsuit is announced the target for the pattern of ~$6.35 will be hit shortly after as long as AMC does not crater with the announcement. In that case I expect both to converge in the $4-5 range while awaiting the conversion and reverse split.
If the initial vote with AMC only shares is a no then I expect APE to go towards $1.20 support with a massive upwards move on AMC. I find this scenario much less likely.
Looking at the APE chart there are so many indicators pointing to the 3.50 target. Bullish divergence on RSI and volume, the shoulders at near an identical level, RSI very oversold etc.
Not financial advice but a lot of money to be made with minimal risk here.
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