AMC Reversal
Nice move for AMC which was expected since max pain for options was $30 for today's close. AMC closes the week with a bullish hammer on the weekly chart and closes above the 50ma. We are seeing bullish divergence of the OBV as well, showing institutions are buying even though price is declining. There are more hedge funds long than that are short on AMC. You can see Wyckoff schematics all over the place indicating that whales are accumulating cheapies and ready to send this to the moon. AMC held up well on the $20 support which most shorts wanted it under to see a $16 gap fill. Short interest is now at an all time high for AMC as well. I'd say sometime December or Jan we break this falling wedge and reach new all time highs.
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