$AMC - Defining Moment - Nine Wave Triangle Breakout? (EW)
2 weeks ago (5/31/21) 
AMC had a long overdue pop due to a Gamma Squeeze and FOMO buying causing very bullish momentum reaching a high of $73. 1 week ago (6/7/21) was all about consolidation/retracement shaking out the weak hands with increased FUD around the market slowing the momentum of the previous week with a low of $37. This week (6/14/21) we are set to have thousands of option contracts expiring ITM that the MM's need to hedge for that could cause an even bigger Gamma Squeeze than last time sending us over $100. This could catapult us into the Short Squeeze were all holding for. We are in Base 3 of this parabolic curve which is suppose to be the most volatile. Last week showed just how volatile AMC can get. With a breakout from Base 3 the stock price could double very quickly. This parabolic curve pattern is rare and sought after. According to Elliot Wave Theory, "triangles nearly always occur in positions prior to the final actionary wave in the pattern of one larger degree." "In the stock market, when a triangle occurs in the fourth wave position, wave five is sometimes swift and travels approximately the distance of the widest part of the triangle. We may experience a Nine Wave Triangle breakout. Another pattern that is also very rare. The (Blue) EW shows that we are in corrective wave 4 setting up for a triangle breakout for final impulse wave 5. The (Red) EW shows the correction that took place last week. The (Green) EW shows what I think may happen this week. We are in a very unique situation so it makes sense that these rare patterns are forming, indicating our long awaited Short Squeeze is just around the corner. Even if it doesn't squeeze this week, we know what to do. Keep buying and holding. It's a pleasure to make history with you Apes. Let me know what you think. To the moon!
AMC had a long overdue pop due to a Gamma Squeeze and FOMO buying causing very bullish momentum reaching a high of $73. 1 week ago (6/7/21) was all about consolidation/retracement shaking out the weak hands with increased FUD around the market slowing the momentum of the previous week with a low of $37. This week (6/14/21) we are set to have thousands of option contracts expiring ITM that the MM's need to hedge for that could cause an even bigger Gamma Squeeze than last time sending us over $100. This could catapult us into the Short Squeeze were all holding for. We are in Base 3 of this parabolic curve which is suppose to be the most volatile. Last week showed just how volatile AMC can get. With a breakout from Base 3 the stock price could double very quickly. This parabolic curve pattern is rare and sought after. According to Elliot Wave Theory, "triangles nearly always occur in positions prior to the final actionary wave in the pattern of one larger degree." "In the stock market, when a triangle occurs in the fourth wave position, wave five is sometimes swift and travels approximately the distance of the widest part of the triangle. We may experience a Nine Wave Triangle breakout. Another pattern that is also very rare. The (Blue) EW shows that we are in corrective wave 4 setting up for a triangle breakout for final impulse wave 5. The (Red) EW shows the correction that took place last week. The (Green) EW shows what I think may happen this week. We are in a very unique situation so it makes sense that these rare patterns are forming, indicating our long awaited Short Squeeze is just around the corner. Even if it doesn't squeeze this week, we know what to do. Keep buying and holding. It's a pleasure to make history with you Apes. Let me know what you think. To the moon!
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