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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.
NYSE:AMC
by Tradersweekly
33
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
NYSE:AMC
by noam_chom
24
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. Remember to follow me to keep in touch with my analyses!
NYSE:AMC
by Nathan_The_Finance_Hydra
$AMC: Long Target 24.64$⚡Inverse Head & Shoulders Pattern forming? ⚡Neckline resistance 13.5$ Supported by Ichimoku Cloud resistance ⚡Bearish Divergence on the MFI, watch for a bounce at the 5.85$ area (huge liquidity zone) ⚡To confirm the Inverse Head & Shoulders Pattern a break of EMA 1 resistance is needed (8.6$ along with EMA 2 resistance, 10$) ⚡Strong VPVR resistance to the 12$ level ⚡Target of the Inverted Head & Shoulders i 24.64$ measured from the head to the top of the neckline ⚡Confirmation of this pattern is once the Ichimoku Cloud is broken forming a right shoulder (engulfing volume) *WARNING* This thread is not financial advice. I am not a financial advisor.
NYSE:AMCLong
by Patriick2jz
5
Will AMC's Short Squeeze Continue?Primary Chart 1 : AMC Price on the Daily Chart with Significant Fibonacci Levels Noted Will AMC's Short Squeeze Continue? Another short squeeze has successfully launched a few lucky traders into the stratosphere. Maybe more than a few if some take profits timely. AMC has risen about +183% above its low on May 12, 2022. In the past several days since July 27, 2022, it has risen about 99.06%. All signs point to another short squeeze similar to the prior ones. Even volume patterns look the same—albeit much smaller than prior volume patterns. The short squeeze could continue as it did in June 2021. Short squeezes don't necessarily stop because everyone things price has gone too high. This article does not take a position on whether AMC is destined to revisit this year's lows or make new all-time lows. And predicting the behavior of numerous market participants—the retail buyers looking for a squeeze and the short sellers looking for a flush—and analyzing how such behavior is affected by other macro issues such as interest rates and liquidity in light of tightening Federal Reserve monetary policy would be a futile endeavor. As a result, one may look to technical analysis to try to make a prediction about the probabilities. Note on Primary Chart 1 how the price patterns at the prior short squeeze on March 29, 2022, and today's short squeeze, look nearly identical. Compare the two yellow ellipses on Primary Chart 1 above. Both peak candlesticks have an extremely tall bullish candle preceding them. And both sport a long upper shadow (or wick). Some technicians call this a Pinocchio candle or bar. This type of price bar shows up when the bar breaks temporarily above a level of resistance and then falls back below it. It also can appear when the bar breaks temporarily below a key support level, and then reclaims that level by the close of the bar. Some basics of Pinocchio bars follow below for those unfamiliar with the term: Martin Pring, a technical expert, writes that these bars "give a false sense of what is really going on." Pinocchio bars tend to create bull or bear traps depending on the direction the long upper shadow points. Upside breakouts, such as here with AMC, lock in unwary longs with a loss by the close of the bar. Shorts similarly get stopped when intraday bars pierce well below support and then whipsaw back above that support by the close. In Martin Pring's books, he further explains that the "false break" that develops is " indicative of exhaustion since the price cannot hold above the strong resistance reflected by the line ." In short, like the character Pinocchio's nose that grows when he lies, the price move beyond the resistance / support ends up being a false move, and the bigger the false move, the bigger the lie. In summary, the Pinocchio bar with a long upper shadow, especially when viewed along side other similar bars over the past year, imply that price has likely exhausted to the upside for the time being. Further support for exhaustion is evident. Note how the Fibonacci projection levels have provided strong support and resistance repeatedly since the all-time high in June 2021. Primary Chart 1 labels those levels and points out their operation as strong resistance on multiple occasions. The last two rally attempts occurred in December 2021 and March 2022. Both these rally attempts failed at the .50 Fibonacci projection (green line shown on Primary Chart 1). For the current rally, the price bars with the long upper shadow pierces the next Fibonacci level of importance in the sequence: the .618 level which lies just below the .50 level . This also supports at least a temporary pullback or consolidation. Additional evidence supports exhaustion. Note below how AMC's price has now risen to +5 ATR on the daily and its candle has a long upper shadow. Moves to +3 ATR are rarely sustainable for long much less +5ATR. In the chart below, note the location of price relative to the +3 ATR Keltner Channel. The +3 ATR KC is the outermost band on the upper edge of the KC bands. Supplementary Chart 2.1: AMC's price well above +3 ATR band on the Daily Chart using Keltner Channels Supplementary Chart 2.2: AMC's price relative to the +5 ATR band on the daily chart using Keltner Channels Finally, note the declining volume on each successive short squeeze. This suggests that the buying pressure has waned as short squeezes have continued following each major decline. Supplementary Chart 3.1: AMC's price well above +3 ATR band on the Daily Chart using Keltner Channels But the persistence of the buyers squeezing the shorts should be recognized as something that is a new force in markets since what occurred in 2021. Price could indeed push higher if enough collective buying force continues in stock and options markets sufficient to overwhelm all supply. Price can do a lot of things no one expects. But based on technical analysis alone, however, price likely falls lower from here. This author makes no argument that new lows will be reached. It will be important to watch the pullback to answer that question. A reasonable price target would seem to be 16.50 near the .618 retracement of the rally from the May 12, 2022, low to the August 8, 2022 high.
NYSE:AMC
by SquishTrade
38
$AMC: Breakout to 15$?⚡200 Weekly level mounted (huge resistance now became support) ⚡Support trendline held with a bullish engulfing + volume + bullish divergence on the MFI ⚡Golden pocket fib resistance ⚡Ichimoku Cloud broken ⚡VPVR support mounted at 9-9.7$ ⚡10.86$ resistance confirmed by 0.5 fib + VPVR node ⚡12$ resistance confirmed by 0.382 fib + VPVR node + Ichimoku cloud resistance at 11.5$ ⚡Moving towards the upper trendline which is located at the 15$ level *WARNING* This thread is not financial advice. I am not a financial advisor.
NYSE:AMCLong
by Patriick2jz
3
$AMC: Price Target 15.5$🔥Bottoming signal on monthly (4-month bottoming pattern consolidation) + Bullish MFI 🔥Monthly Ichimoku low confirmed as bottom followed by TD-Sequential 9 🔥200 Weekly Moving Average Resistance at 9.45 (This should be reclaimed due to the open interest at this level) 🔥Monthly resistance at 11.6$ confirmed by Ichimoku Cloud 🔥7.86 Fib retracement at 8.3$ confirmed by volume 🔥Price target 15.5$ (surpass 2.36 fib to retest resistance at 15.5$) 🔥VWAP broken o daily chart (Bullish signal) 🔥Vix Fix indicator strong bottoming signals on daily chart 🔥Watch for an engulfing amount of buying-volume 🔥VPVR support at 8-8.80$ 🔥VPVR resistance at 10$ confirmed by EMA - Ribbons *WARNING* This thread is not financial advice. I am not a financial advisor. Thank you for reading.
NYSE:AMCLong
by Patriick2jz
2