AMC Networks Inc (NASDAQ: AMCX)

AMC Networks Inc. owns and operates various cable television’s brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The National Networks segment owns four nationally distributed entertainment programming networks comprising AMC, a television network that focuses primarily on story-telling under Something More brand name, which comprises films that are licensed from various studios; WE tv, which showcases original and programming series, and feature films; IFC, a network that creates original comedies under Always On. Slightly Off brand name and offers films from various film distributors; and Sundance Channel, which showcases original scripted and unscripted programming series. The International and Other segment operates a network of 9 channels in 16 languages across 24 countries focusing primarily on AMC in Canada, and global versions of the Sundance Channel and WE tv brands.
Take a look at the 1-year chart of AMC (Nasdaq: AMCX) below with my added notations:

Over the last 6 months the AMCX seems to have formed an inverse head and shoulders pattern (green). I have noted the head (H) and the shoulders (s) to make the pattern more visible. The stock’s neckline resistance is just under the $66 level (red). AMCX would confirm its H&S by breaking through the neckline.
Lastly, keep in mind that simple is usually better. Had I never pointed out this inverse H&S pattern, one would still think this stock was moving higher simply if it broke through the $66 resistance level. In short, whether you noticed the pattern or not, the trade would still be the same: On the break above $66.

The Tale of the Tape: AMCX has formed an inverse head & shoulders pattern. A long trade could be entered on a break through the $66 level, preferably on an increase in volume.
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