$AMC: Short Squeeze Update!
Updated
Early in the day we got rejected at 34.3$ which is hard resistance.
Support was later found at the 7.86 Fib (26.4$).
Worst case scenario support 25.45$ (MA-4). Also confirmed by VPVR node.
We have also established strong support at 27.3 (MA-1).
28.10$ is also valid support confirmed by the 6.18 Fib and a large VPVR node.
MFI is trying to cool off, still on a strong uptrend. Volume seems to be fading away which is a good sign due to the fact that the selling pressure is weak.
We are facing resistance at 29-30$ confirmed by a large VPVR node (.382 Fib)
We also have a 9 on the TD-Sequential at the top of an uptrend which indicates that we are overbought. Right now we are forming a small retracement to continue the uptrend.
Support needs to be held at 27.5-28$ to break 30$.
We need this day to close above 30$ to remain bullish.
Options chain is looking promising.
52k Open interest at 40$
18.7k Open Interest at 30$
31.6k Open Interest at 35$.
Once these options begin to get ITM price should climb back up.
*WARNING* This thread is not financial advice. I am not a financial advisor.
Support was later found at the 7.86 Fib (26.4$).
Worst case scenario support 25.45$ (MA-4). Also confirmed by VPVR node.
We have also established strong support at 27.3 (MA-1).
28.10$ is also valid support confirmed by the 6.18 Fib and a large VPVR node.
MFI is trying to cool off, still on a strong uptrend. Volume seems to be fading away which is a good sign due to the fact that the selling pressure is weak.
We are facing resistance at 29-30$ confirmed by a large VPVR node (.382 Fib)
We also have a 9 on the TD-Sequential at the top of an uptrend which indicates that we are overbought. Right now we are forming a small retracement to continue the uptrend.
Support needs to be held at 27.5-28$ to break 30$.
We need this day to close above 30$ to remain bullish.
Options chain is looking promising.
52k Open interest at 40$
18.7k Open Interest at 30$
31.6k Open Interest at 35$.
Once these options begin to get ITM price should climb back up.
*WARNING* This thread is not financial advice. I am not a financial advisor.
Trade closed: target reached
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