amc entertainment holdings inc amc was trading 19 on wednesday morning after closing down 265 to end tuesday’s session the theater chain has been battling a heavy resistance level near the 575 mark and because the stock has been unable to break through the area has formed a bearish tripletop pattern a double or triple top pattern is a reversal indicator that shows a stock has reached a key resistance level retraced lower backtested the level as resistance and is likely to retrace again it is possible the stock may retest the level as resistance again creating a quadruple top pattern the formation is always identified after a stock has reached a price and is at the top of an uptrend whereas a bullish doublebottom pattern is always found in a downtrend a spike in volume confirms the tripletop pattern was recognized and subsequent increasing volume may indicate the stock will retrace into a downtrend the possibility of amc breaking the tripletop pattern might hinge on the stocks response to its q1 earnings scheduled for release on friday for the quarter analysts expect amc to report an earnings loss of 16 cents per share on revenues of 94113 million want direct analysis find me in the bz pro lounge click here for a free trial the amc chart amc started trading in an uptrend on april 24 and has since made a consistent series of higher highs and higher lows the stock’s most recent higher low was formed on april 27 at 516 and the most recent confirmed higher high was printed at the 574 mark on tuesday   although amc printed a hanging man candlestick on tuesday the lower wicks on monday and tuesday’s candlesticks indicate there are buyers below 550 if traders continue to support the stock under that area amc will be more likely to break up above the triple top   if amc falls lower heading into friday’s earnings print the stock may settle into a cupandhandle pattern on the daily chart with the rounded cup formed between april 12 and tuesday and the handle forming afterward if that happens the measured move is about 17 which suggests amc could trade up toward the 6 mark   bearish traders want to see amc react to the hanging man candlestick and then for big bearish volume to come in and drop amc down under the 5 mark which could add more pressure to the downside and negate the uptrend   amc has resistance above at 633 and 747 and support below at 523 and 431 read next amc ceo lashes out at robinhood then touts financial position