AMC Entertainment Holdings Inc. and GameStop Corporation have both been trading in bearish downtrends since Nov. 23, making consistent lower highs and lower lows.
On Monday, AMC and GameStop plummeted about 15 percent and 16 percent, respectively, and on Tuesday both stocks were attempting to erase some of their losses. The two retail favorites were due for a bounce because their relative strength indexes (RSIs) were measuring into oversold territory near the 30 percent level, which Benzinga predicted in reference to AMC’s stock on Monday.
