AMC Entertainment Holdings, Inc (NYSE:AMC) was plummeting over 17% on Monday after breaking bearishly from a bear flag pattern on the daily chart that Benzinga called out on Friday morning.

Insiders have been on a selling spree recently with CEO Adam Aron and CFO Sean Goodman cashing out a combined $10.2 million in stock on Dec. 7. Insider selling is often viewed as negative because it can indicate executives have lost faith in the company although Aron took to Twitter to announce he was diversifying his assets for estate planning.

Insiders have sold more than $70 million worth of stock so far this year, which may have caused some traders to begin exiting their positions, although the community on r/amcstock believes the price is being manipulated by hedge funds to shake out retail traders.

Regardless of the reason, traders may want to be aware of the levels and patterns on AMC's chart, as they plan their strategy.

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The AMC Chart: AMC fell through a key support level at the $25.79 mark. The stock hasn't traded below the area since May 27 and the area may now act as heavy resistance.