$AMC Priming for a Boom or Bust? AMC forming a nice bull flag on the 1D chart that I have been watching for a while. RSI on a 1D chart looking bullish IMO with an upward trend in RSI since January of this year. MACD Divergence and consolidation occurring on a 4HR chart, also giving me confidence of a significant move incoming. ADX & DI contractions are healthy signs especially considering we have respected the range of the bull flag with healthy consolidation. Assuming the bottom trendline of the pennant holds, as well as staying in bound with respective moving averages, looks like a pop or drop scenario, but I am definitely leaning towards the pop side, given the technicals. Reminds me of the GME consolidation phase after the pop to 485.
Few ways to play this depending on your risk tolerance, strangles would be nice plays if youre just looking for the volatility. Maybe vertical spreads if you want to take a conservative call option position. I am personally taking the bull side with near the money calls with the most gamma exposure which would be $60 strike calls. GLTA
