Anyone looking at AMC for a potential short squeeze?
Current AMC's short interest is at 21%, well below that of GME's 140% prior to its January pop.
However, AMC's short interest is gaining traction every month - up 27.2% in April compared to March. Despite that, AMC's price has been stable for almost 2 months now.
TA wise - it's sitting on EMA supports. Is this symmetrical triangle since early March a bull pennant? MACD turning positive. RSI right in the middle.
I currently don't own any share, but this looks very interesting for a call option play.
Let me know what do you think.
Current AMC's short interest is at 21%, well below that of GME's 140% prior to its January pop.
However, AMC's short interest is gaining traction every month - up 27.2% in April compared to March. Despite that, AMC's price has been stable for almost 2 months now.
TA wise - it's sitting on EMA supports. Is this symmetrical triangle since early March a bull pennant? MACD turning positive. RSI right in the middle.
I currently don't own any share, but this looks very interesting for a call option play.
Let me know what do you think.
Trade active:
Wow!!! Very nice gap up pre market and the bulls kept running. Price broke out and briefly pierced last high resistance at 12.20’s... now forming a bullish flag/pennant... if we can close above 12.25 today, we’ll be in for more run.
This break out is real... volume <2h after market open was already over the avg daily volume.
Ride this rocket y’all. (Not trading advice)
This break out is real... volume <2h after market open was already over the avg daily volume.
Ride this rocket y’all. (Not trading advice)
Comment:
Broke out or bull flag - 🚀
Comment:
Recap - yesterday, AMC ran to resistance at 14, and day traders took profit, and AMC closed in the high 12’s range
Today, AMC opened gapped up very strong and retested the 14 resistant zone. Currently it’s building an ascending triangle right below it. Volume remains very strong. It’s a matter of time before the 14 resistance get broken.
I see 18-20 as the next resistant level.
Today, AMC opened gapped up very strong and retested the 14 resistant zone. Currently it’s building an ascending triangle right below it. Volume remains very strong. It’s a matter of time before the 14 resistance get broken.
I see 18-20 as the next resistant level.
Break out or fake out?