$MMTLP Double Bottom?MMTLP is a few pennies from a double-bottom at $2.75. I wouldn't be surprised if we saw a small sell-off tomorrow at open to get us there before it gets wild. There's only two trading days left before any shorts trapped in the stock have to get out, so... >.>
Microwave that popcorn.
MMTLP
$MMAT Has Achieved LiftoffIf you've been in $MMAT since at least July of last year like I have, today is a big freakin' deal. $MMAT is currently up 23% after hours on top of a +14% day in normal market hours. No doubt you're aware the dates were set for the spinoff of $MMTLP into Next Bridge, which has set the deadline for shorts to cover. $MMTLP will be delisted by close of market on Monday, December 12th and many shorts will be forced to cover by close of market on the 8th (Thursday). I don't know how this is going to impact $MMAT in the short term, but it's clear we're about to squeeze alongside $MMTLP. So here's the updated chart with some interesting observations:
$MMAT ended the day after hours at $2.40, which just happens to be 0.885 Fib extension based on the November move.
Meanwhile, we've bounced off a big resistance line around $2.03, which sets the ceiling for the past YEAR!!
Staying above this resistance line is a big, big deal. I would expect it to establish a new low and potentially run higher.
Finally, today's normal market price action stopped at the bottom of the previous channel. Has it been reestablished?
For what it's worth, I have a very ambitious price target of about $20 for a world-ending squeeze. I'll post a larger chart this weekend, assuming I'm not too busy buying a Maserati (lol).
A Candle to Rule Them All $MMTLPLook at that beautiful, chunky boi floating free and clear of the top trend line. If you check my previous charts, you'll see the channel for this trend is formed by the squeeze that happened in October of this year. We could always get slammed back down, but I want to believe MMTLP is about to fly.
$MMAT Goes to the Moon?Closed at $2.16, a 30% run in a single day
Peaked at $2.27
Volume: 67.5 million
Hoo, boy, what a wonderful day for MMAT! We're in a short week with a holiday, so I would temper expectations. My guess is they'll have a really difficult time getting us under $2 again, but all of those contracts that will be ITM should help to push us up even more going into next week. The likelihood for a gamma squeeze is really in the January monthly contracts. Go look at the OI. It's juicy. Sustained buying pressure taking us about $4-5 going into January could be devastating.
The Elegance of $MMTLPThere's something particularly elegant about MMTLP's chart. Between the upward channel and Fib levels, I love watching this one play out. We're currently forging new all-time highs and don't seem to have peaked in this current trend, so I suspect we'll be in the 10's very, very soon.
The Curious Case of MMATThings that make you go "hmmmm...."
Weird how literally everything was green today, but $MMAT & $MMTLP were both super red.
MMAT Projected TrendPart 2 of 2: A projection of a possible pattern going into 2023. This assumes $MMAT will repeat the previous trend from 2020/2021 to some degree based on Fib levels.
MMAT Trends from 2021Part 1 of 2: Looking at MMAT coming out of 2020 and into 2021 with an eye toward projecting a similar pattern in the months ahead. $MMAT
MMAT and $1.62Is it Monday yet? I wish it were Monday. Earnings next week on Wednesday, one day after Election Day.
MMTLP Going to a New ATHThe last time MMTLP broke over the previous ATH it soared. Looks like we're about to break that ATH again after a brief break out today. Unless of course we're about to break down to buy more time. Maybe the S1 approval comes out tomorrow or next week?
