AMC, Fibonacci Channel: Support and ResistanceJust another perspective that I wanted to share with the community. These fibs can act as points of resistance or support as they have proven to respect in the past. The fractal has progressed far enough to the point where it is reaching the end, keep your eyes peeled.
"Every single line means something." Jean-Michel Basquiat
AMC
AMC Gears Up for New 2023 All Time HighThe drop on AMC has reached the expected levels however, it surely took a detour from the expected itinerary which left me questioning the play all together. Reassessing the structure of the drop and now finding a bit of clarity, I feel confident to say that my previous prediction was on point for the most part and I now expect AMC to reach for new all-time highs late in 2023. Will possibly share updates within the comments of this post.
Moneygram short squeeze#Moneygram has increased in volume substantially since 2013. A direct competitor with #WesternUnion, a monster in remittances. We know that the Foreign Exchange markets handle trillions of $ dollars in volume daily. It’s a competitive market. Ripple, and XRP are a new competitor to #SWIFT (Society for Worldwide Interbank Financial Telecommunication). Ripple partnered with #MGI in 2013. #Ripple IPO follows final ruling on #Ripple vs. #SEC lawsuit (expected January 2023). #SEC / #GaryGensler meets privately with #SBF #FTX on regulating #digitalassets. Gary missed the ball: he’s either stupid, or has some agreement w Sam and #CarolineEllison . Gary Continues to be ignorant in ripple vs. Sec lawsuit. Potential leverage shorts on MGI. Look at GME. #GME holds well above ATH before #MemeStonk #shortsqueeze . I like #MGI stock. It gives me short squeeze vibes.
BBIG Vimco Ventures - A Classic Triangle PumpI came across this stock the other night when it was trending on Twitter and took a look at it for the first time ever. Apparently Vimco is a holding company that's touted for one of its assets being the "TikTok competitor" Lomotif.
Personally, I think people who are bullish on app clones of big apps are delirious because the reason those big apps get rooted by the establishment are for reasons that have little to do with their technology and everything to do with what is behind them.
In TikTok's case it's the Chinese Communist Party behind them, via parent company ByteDance, and the purpose of the app is to indoctrinate young people and have them waste a lot of time competing with influencers and trying to be an influencer .
The thing about a grooming and indoctrination app is you can't have competition. You need just one that can cannibalize the entire market and hold everyone's attention.
Regardless, I'm a big believer in price action. So long as Wall Street banks are holding an interest in a stock, I think that price action reflects the cumulative knowledge of all market participants. It's the real penny stock pump and dumps you have to be afraid of. Once they get rugged there's no liquidity and they _will_ go to zero.
With BBIG, BlackRock, Vanguard, State Street, etc, all have significant holdings.
Before we start, I'd just like to say that I actually saw this pattern the night before and posted it as it began its fake breakout, just not in a formal TradingView call.
Anyways, this pattern is a pretty classic one that I learned from this dude in crypto in 2018 when Ethereum Classic made a similar play that yielded a lot of run, and fast. I didn't believe him, but the short end of the trade worked and then it pumped afterwards.
The idea is you first get this parabolic super pump that doesn't last. Then, it consolidates for a long period of time with descending highs and flat lows.
What's being exploited is that so many traders love these trendline astrology "technical analysis" ideas. So when they see something "break out" to the upside "against the trendline" they stop out of their shorts and get long.
Then it immediately sells off back into the triangle, and then takes out the bottom, and heads lower and lower, taking out all those poorly timed longs that bought in the triangle, treating the flat bottom as support.
Notable with BBIG is that there's a pre-pump gap in the 71c range and the all time low, which is also the pre-pump pivot low, is 67c.
I suspect that 67c will hold under the thesis that the MMs are actually heavy on the buy, but if the pump is going to be big, they may also turtle soup the very bottom.
Either way, you might think to yourself, "This isn't that realistic. This is 20%+ to the downside." And this logic is fine, but look at the range of the triangle breakout into the breakdown that just occurred. In a few days that was already 20%.
Late in October, BBBY printed a 35% pump in a few days.
A conservative target for the resulting pump, should it manifest as such, is in the $1.40 range. It may even take out the old pump high of $1.95. In short, you're looking at a 2-3 bagger, if all transpires according to plan.
Price action like this leads me to believe that it's possible that the Biden Administration really does have a ban on TikTok waiting in the cards, ready to be imminently played as social media chatter has suggested.
Additionally, I also believe that tech stocks in general are about to pump it and pump it hard, even though it'll just be another bear market rally. A lot of suckers are about to be brought in.
Well, with a stock like this you don't want to buy and hold. You want to get in and get out. A lot of these companies really have no fundamental value. If you want things to buy and hold, put your money in grocery stores, fertilizer companies, oil and gas, etc.
Things that genuinely make money from genuine business, instead of these jokers that pay some kids pennies to clone apps and then call it a $205MM valuation, which is what Vimco's market cap is at the moment. (That's tiny.)
But, be careful and don't be greedy with your upside targets. The world isn't in good shape at the moment and things can change at any time.
Significant geopolitical, natural, and cosmic events can unfold at any time.
Meme Basket Found - AMC CHPT COIN DT F FIVN GME GRAB HOOD LUMNTo add a good approximation of what the current meme basket looks like just copy this and add it as a new symbol.
AMC+CHPT+COIN+DT+F+FIVN+GME+GRAB+HOOD+LUMN
This is the current basket and someone's sold $166 mil worth of spreads ranging between $0.4 up to $6.3 in spread on this basket on the 7'th of Dec and 15'th of Nov. There's around 78 transactions worth $2m each done in quick succession on those dates.
Here's the stocks that are part of this basket:
AMC
CHPT
COIN
DT
F
FIVN
GME
GRAB
HOOD
LUMN
This isn't that good because HOOD is part of the basket and so is AMC (which we all kinda knew). But because HOOD is part of this basket and FTX's was hoarding HOOD shares that may be sold off in the market (hopefully will be sold in a block trade auction instead), if those HOOD shares are sold at market value, they'll tank the whole basket. Regardless, even if sold algorithmically, those HOOD shares are going to have a decently big effect on the basket (Price go down).
This is a weird basket with lots of mixed sectors... All i can say is that there's a falling wedge which indicates that something may start occuring in Feb just in time on Feb 21 for the quarterly meme run. Hopefully the whole market doesn't decide to correct again on that date like it has the past few cycles specifically on that EXACT day out of coincidence...
Found this swap in the DTCC- SEC swap depository online as this is something i've been tracking for a bit over a year now. Since a month ago SWAPS are reported with a lot more and useful information and the full meme basket name is now visible basically.
Billions of shares sold short, market manipulation, and CitadelOver the past few months, the AMC/APE craze has been underway, with plenty of retail investors spamming various social networks and prompting others to buy the company’s shares. As per the information in tweets, memes, and messages, this retail investors’ uprising aimed to bring down hedge funds, with the central target being Citadel.
There were numerous instances during this time when people claimed the price of shares would burst into multiples if all investors stuck together and continued buying collectively, not allowing hedge funds to buy shares and close their short position (leading to their downfall). In fact, during this period, we encountered numerous statements about billions of shares being sold short. Meanwhile, only about 513 million shares were outstanding for AMC and 519 million for APE in the third quarter of 2022. At the same time, the short interest on AMC shares amounted to approximately 20%, with 101 million shares being sold short; and only 33.5 million shares of APE being sold short.
These figures obviously deviate too far from what the retail narrative promotes. Furthermore, many people promoting this narrative and encouraging others to buy shares do not seem to realize what they are doing might be potentially criminal and classified as market manipulation. Furthermore, a lot of information concerning the whole craze is entirely wrong. Many people seem confused about “wrapped-AMC token” with over 8 000 000 000 000 000 in supply being related to the AMC company. However, anyone can create a token and name it “AMC token,” regardless of whether it is associated with the company. As for Citadel, we have failed to find any disclosure of their short position on AMC/APE during the respected period.
In our series of tweets last month, we warned that the regulator has most likely learned a lesson from 2021 and would step in and halt trading if buying activity picked up significantly. Shortly after that, that is what occurred when the regulator poured cold water on the rally with a temporary halt to trading. Year to date, shares of AMC are down approximately 70%, which is far away from what was promised by those shouting “buy and hold.” Therefore, this whole situation should serve as a reminder of being cautious about what you see and listen to. Always do your due diligence.
Illustration 1.01
In the 2021 meme stock hysteria, shares of AMC jumped up as high as 44.61$.
Please feel free to express your ideas and thoughts in the comment section. Additionally, if you have more information on this topic, feel welcome to share it with us.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
AMC ready to fade. Too Much Big Short Money to OvercomeI like the theory of beating the Hedge Funds and their over capitalized naked shorts
but the reality of the markets is that they exist to hurt us (the poor and middle class).
I'm expecting a fake breakout sometime between now and Christmas, this will pull in a final round of suckers.
then going into the new year, this will print a definitive new lower low on a ton of volume.
The AMC Movie Theatre business fundamentals don't matter at all, this is a meme asset that is narrative and emotion driven only
AMC: Hit our CRITICAL SUPPORT LEVEL! What to expect from here?• AMC hit our support level at $5.05, which I mentioned in our previous post, here on Tradingview (link below this analysis);
• Now, it seems it is stabilizing, but we don’t see any bottom sign yet (not confirmed, at least);
• If AMC does a bullish reaction above this support, we can expect a bounce, at least, to the 21 ema in the daily chart;
• A bullish reaction could be any bullish candlestick pattern/structure above this key support;
• On the other hand, if it fails in react around the $5 support, AMC would seek the next support around $3;
• Either way, AMC is in a critical situation, and it is an interesting to put on our watch list, as regardless of what happens, it has a lot of potential;
• So far, AMC’s movements have been easy to read. I’ll keep you posted on this.
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Where are all the shares Kenny? Wow how absolutely wrong I was, looking back at all of this time, effort and money... I've been having a hard time swallowing the truth of this squeeze play being a nothing burger for the past 2 years so far.
With that said, my conviction on this play has not changed whatsoever. No, that is not supposed to be an inspiring statement at all for us shareholders (we have been railed so far) it is just the purest truth. I am not giving up nor will stop buying shares, I will continue accumulating over the time that passes by, there has been too much DD and investigation of the fraud currently taking place in the market and especially on this ticker to roll over. I'm calling this bad call as it is, being wrong, but this play WILL eventually come to fruition and squeeze from the massive amounts of short shares floating around in this oblivion we call a "Market". They have not covered, that's the only thing that matters to me.
GME will either crash down to 10$ here or start its run back to test that 35$ area then 50$ etc. I still have every call I've purchased so far this journey (leaps), along with every share, I have not sold a thing.
To all the people/bears telling me that I was wrong, well yes, that seems to be true at the moment. Lets just remember though before you have your victory lap... it hasn't ended yet. Tread carefully...
Happy Holidays.
AMC: Triggered our REVERSAL SIGN! What’s next?• In our last analysis, we nailed the top on AMC, as it triggered its key reversal points. In addition, it is way below our original target – the link to my previous public analysis is below this idea;
• Now, AMC lost our first target (21 ema, daily chart), and it ignored all of its retracements, including the 61.8%, the last mid-term support level;
• Is there any bullish reaction on AMC? Not at all. What’s more, even if it reacts, the 21 ema and the black line at $6.80 are key resistances, and AMC could just bounce to this level to drop again afterwards, since there’s no clear bullish reversal structure on it;
• The next support is at $5.05, and if we don’t see any meaningful bullish bottom sign, that’s where we are heading to;
• What kind of bullish reaction on AMC could make it bounce again? If it does a bullish candlestick closing above the previous day’s high. This would be a good start. I’ll keep you posted on this.
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AMC Entertainment Faces Steep Drop Below $10Without securing price action above $60 during the pending upside swing, AMC faces a very steep drop below $10, more likely to find support near $5. Considering the trending upside move and its 3 wave structure, this eliminates the possibility of AMC being in true impulsive form.
AMC: We nailed the BOTTOM! What to expect next on it?• Last week, we nailed the bottom level on AMC, and it exploded since then, as it broke our resistance at the blue area – the link to my previous public analysis on AMC is below this post, as usual;
• Now, AMC is in a short/mid-term bull trend, doing higher highs/lows in the 1h/D charts;
• Since it is a bull trend, in theory, it is heading to the next resistance at $10.75, as we already mentioned last week (last week we hit $9.15);
• Although the trend is bullish, it seems AMC is doing a pullback, and in this case, the 21 ema in the 1h chart along with the blue area are going to work as support levels;
• What if AMC loses the blue area? Then it’ll probably seek the 21 ema in the daily chart around $7.30s;
• For now, AMC has been behaving as expected. I’ll keep you updated on this.
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AMC - I'm Saying There's A ChanceIf we can hold support on these higher time frames and stay within or above my green consolidation zone I think there's a good chance we can move towards that horizonal target. If we can break the sloping resistance I think we can see higher prices. Not financial advice. DYOR
AMC: The MOST IMPORTANT support levels to work with!• Since our last analysis, AMC has been respecting the 38.2% retracement. It hit the retracement at least 5 times in the past two weeks;
• Originally, I thought the 50% was the most powerful support (after all, it is a dual-support level), but the 38.2% is a dual support level too, as the 21 ema finally got there;
• This is a classic time correction, when the price moves sideways, until the 21 ema catches up with it. This is different than a price correction, when the price drops to hit its previous support levels;
• All of this means that AMC is quite resilient, and as long as it stays above its retracements, the bullish bias will persist – only if it loses the 61.8% I see it below $5 again;
• Right now, the key resistance is the blue area. By breaking this ceiling, AMC would seek the next target, around $10 again. I’ll keep you updated on this.
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GME 2.0????????? BGFV SQUEEZE!?!?!?!!!!www.reddit.com
In-depth analysis, can explain better than I can.^^^^^^
But essentially a similar situation to GME was.
A highly shorted stock that is debt free, making profit, and other good fundamentals.
Currently BGFV is the most shorted stock in the market.
The special interest date will be a big event.
Whether it squeezes or not, this stock is a great buy.
But volatility is increases a short is imminent and it's becoming more volatile.
Before earnings report it pumped 70%.
What do you think does this have the potential to squeeze????
Will we see $100+???????
Let me know, whatever happens it will be very interesting!!!!