TheDrivenTrader

AMC - Breaking Historic Levels of Resistance

Long
NYSE:AMC   AMC Entertainment
AMC broke its high set in the previous short squeeze back in January 27th. Unlike the price action back on late January, AMC is not in a short squeeze. There are still a huge number of shares being borrowed against AMC. We just need to keep holding and make it more expensive for these firms to bet against AMC.

Before we see a meteoric rise, we must first break through the all-time high of 35.00+. A gamma squeeze is expected to occur when AMC breaks 40.00. After 40.00, there will be one last hoorah leading up to 50.00. I expect a massive short squeeze to begin when price crosses above 50.00. HODL!

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