AMC will reach new all time highs
It appears momentum has now switched back in favor of the Apes. Closing the day above 50 MA on daily chart. MACD as well as CCI/RSI indicating a trend reversal. May see slight pullback at $43-44 resistance level and possible consolidation before breaking above. Retail shorts that entered in the 50-60 range are now covering their positions for profit slightly adding to upward pressure. It looks like that $32.00 gap fill proved to be a huge demand zone for buyers and short sellers exhausted. MM's selling off from $70 to $32 just loaded the chamber for longs. MM's will have to switch to long side and ride the wave up and cover their countless FTD shares. Potential lawsuit and controversy around PFOF applies pressure to institutional short sellers. Price target 150-200 August-Sept.
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