AMC Entertainment Holdings, Inc (NYSE:AMC) has continued to trend higher over the past week, which Benzinga pointed out was likely to occur on July 13. Instead of breaking up from an inside bar pattern, the stock printed a bull flag and broke up from the upper descending trendline of the flag formation on Monday.
The bull flag pattern is created with a sharp rise higher forming the pole, which is then followed by a consolidation pattern that brings the stock lower between a channel with parallel lines or into a tightening triangle pattern.
