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. AMC and GameStop both have a lot of work to do to buck their downtrends, however, but it should be noted that events affecting the direction of the general markets, positive or negative reactions to earnings prints, and news headlines about a stock can quickly invalidate patterns. As the saying goes, “the trend is your friend until it isn’t,” and any trader in a bullish …