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$BB Update, Predictions based on Fibonacci LevelsAs I posted the other day, I expected BB to make a move to its next fibonacci zone near 22.00. Resistance was met at the 61% retracement level and it got shot back down to its 38% retracement level after failing to hold the 50% retracement level (15.60's). Bouncing off the 38% level near $13 could give us 2 paths as I show on the chart. Need to break through that 50% Retracement zone for continued momentum and strength upwards. Trade around the Fibonacci zones, and see what works for you. Once you find a price on either a 4 hour or daily chart that you find appealing, once the price is around that level, switch to an intraday to execute the trade based on the best price and entry for that day. GLTA.
NYSE:BBLong
by chartxzy
1
$CLOV Update, Important Current Factors Finally popping like it deserves, options playing out nicely with this one. Very important that we hold around this 10.50 level being the 38% retracement level from the ATH in January. I would like to point out that the short interest is 31% of the float, with insiders not being able to sell shares until $30 a share. There are plenty of really informative DD posts on reddit that I fact checked myself that give all the in depth fundamentals, so I will link those as well. Link: www.reddit.com As of technical's, CLOV showed it could easily break though that 38% retracement level reaching a high today of NEARLY 11.20. The fibonacci's dont mean panic sell if it dips below 10.50, this is a daily chart, so with a close over or around 10.50 today, this would give me a lot of confidence in this reaching the next Fib zone which I highlighted in purple near the 11.86-12.00 range. 10.20 is support for the day today, 6/7. According the research that I conducted myself, as well as others research, nearly 90% of ALL shorts are in LOSING positions around the $11 price range, which can potentially mean gamma squeeze. The company itself has strong fundamentals which are highlighted in the reddit post I linked, once market share is captured and has even a fraction of the what other insurance companies have, this trades near $100 easily IMO. That is WITHOUT the squeeze potential. Fib Zones with my targets, as well as support and resistance accordingly. Z1: 6.35 - 8.95 Z2: 8.95 - 10.57 Z3: 10.57 - 11.89 Z4: 11.89 - 13.20 Z5: 13.20 - 15.07 Z6: 15.07 - 17.45 Positions purchased June 2nd: 6/18 $10 Calls 7/16 $15 Calls 8/20 $30 Calls (Leaps)
NASDAQ:CLOVLong
by chartxzy
4
AMC Stock up 3,000%!What is going on with AMC Entertainment? I'm sure you've heard the news: Defying all forms of fundamental analysis and business logic, AMC Entertainment AMC once again finds itself climbing higher. AMC is up 200% advance since last week and almost 3,000% since the beginning of the year. This is another coordinated short squeeze event by retail investors - especially the users of the Reddit Forum /WallStreetBets or "Apes" - as they call themselves. Back in January, AMC Entertainment and fellow Meme Stock, GameStop GME , were the focus of an attack on institutions and hedge funds that held substantial short positions in the stocks. "Being short" means that the investor believes that the price of the stock will fall and that the underlying business does not deserve its current valuation. A short squeeze occurs when the price of a stock climbs and goes against the short position, forcing the short sellers to buy existing shares to "cover" their positions. When a stock has an unusually high short percentage, like AMC and GameStop, investors can actually force the price to go higher by buying up shares at the current price. From there, it is simple economics: the supply of shares falls as the demand increases, driving the price of the equity higher. Just exactly how much have short-sellers lost on AMC? On Wednesday, June 1st, short-sellers betting against AMC lost $2.8 billion, bringing their year-to-date losses to more than $5 billion, according to S3 Partners. The idea of short squeezing these stocks was fueled on social media, Reddit to be exact. The subreddit r/WallStreetBets made AMC and GameStop its darlings, and along the way has amassed an army of Apes numbering over 10 million. Since then, the hashtag #SqueezeAMC has trended all over the internet. Daily trading volume for AMC has topped a staggering 650 million shares over the past few trading sessions, indicating that retail investors are all in! Why Is AMC Stock So High? Mark Twain once said, "history does not repeat itself, but it often rhymes" . AMC and GameStop are once again being squeeze by r/WallStreetBets and other traders that are growing tired of the market manipulation by institutions like hedge funds. There are other catalysts as well though, including the great re-opening following the COVID-19 pandemic. AMC operates nearly 1,000 movie theaters around the world and announced that all of its U.S. locations are back open following an aggressive vaccination rollout. Early indications from both the Easter and Memorial Day long weekends are that movie fans are ready to return to theaters. We are also nearing the summer blockbuster season that will see the return of big-name movies like Space Jam 2, F9 the latest Fast and the Furious movie, and the Suicide Squad sequel. Who is buying AMC stock? AMC CEO Adam Aron is a genius: He has also been hitting all the right notes with investors. Here are just 2 examples: 1.) Aron famously announced that AMC Entertainment was “under attack” by short-sellers, which served as a rallying cry for WallStreetBets. 2.) He additionally revealed that retail investors "own more than 80%" of the company at the last count, meaning a non-institutional base now owns a super-majority of AMC shares. At the last earnings call. he said: "We work for them. I work for them... and their ambitions and passions are important to me." 3.) And yesterday, he was announcing plans that AMC investors will be rewarded with special screenings and free popcorn. Contrast that with ex-GameStop CEO George Sherman, who stayed largely quiet while his company's stock price soared in late January. Did AMC Sell More Shares? Recently, AMC Entertainment sold 8.5 million shares to an investment firm called Mudrick Capital, which helped the company raise about $230 million. Shares surged 20% after this news. Interestingly enough, on the next trading day, shareholder Mudrick Capital turned around and sold all those shares for a quick profit. Mudrick stated that the stock was now overvalued, and given the recent volatility, it's hard to fault them. Had Mudrick held onto the shares, they would now be worth well over $500 million. This morning, June 3rd, AMC announced that it filed for additional share offerings with the SEC. They said it may sell some of the 11 million shares “from time to time.” Apparently, that time was now as it completed the offering in about three hours. AMC said it sold 11.55 million shares at an average price of approximately $50.85 per share - bringing in an additional $587.4 million. This is on top of the $658.5 million already raised this quarter, resulting in a total equity raise in the second quarter of $1.246 billion. What's The Highest AMC Stock Has Been? Yesterday, on June 2nd, AMC rallied an unimaginable 95% to close the trading session at over $72.62 per share, which is the higher it has ever been. AMC has now gained 3000% year to date, which is a clear illustration of the current hysteria surrounding the stock. AMC has now surpassed GameStop's market cap, and is clearly the new favorite stock of WallStreetBets. How High Will It Go? Can AMC really hit 100,000? Nobody actually knows! Any guess is pure speculation right now, so please do not take anyone's word for an actual price target. A short squeeze like this is a ticking timebomb, and as we saw in January, the downside comes harder and faster than the ride up. If you do a quick scan of social media, you will find price targets of anywhere from $100 to $100,000 per share. Remember, it is all speculation, and there are many people who will take advantage of investors feeling FOMO, by pumping out inaccurate information. Let's take the popular figure of $100,000 per share as an example. There are 498 million shares outstanding for AMC. Simple market cap calculation would place the value of AMC at about $50 trillion, or more than the entire S&P 500 index, which is valued at about $35 trillion right now. Before we talk about whether you should be investing in AMC or not, let's talk about the fundamentals: Is AMC losing money? Yes. 2020 was tough for AMC: The company lost 4.5 Billion Dollars. AMC is in a tough position: During the pandemic in 2020, streaming services like Netflix, Disney+, Amazon Prime, Hulu and others gained a lot of momentum. And many people upgraded their home theaters. But with the cash infusion of more than $1.2 Billon, AMC can buy up their competitors, upgrade their theaters and invest in their growth. And as COVID restrictions are being lifted in the US, people are ready to get "back to normal" , and this includes visiting theaters. So AMC could be in a good position to stay in business. Will AMC go up tomorrow? Who knows? In their SEC filings, the company said: "We believe that the recent volatility and our current market prices reflect market and trading dynamics unrelated to our underlying business, and we do not know how long these dynamics will last." And AMC CEO Adam Aron warns: "Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment." "Should I Buy AMC Shares?" This is the real question: should you buy AMC? Is AMC a good buy? If any other stock gained over 1,100% in less than six months, would that seem like a good time to buy in? Warren Buffett famously said, "be greedy when others are fearful, and fearful when others are greedy". And even the CEO himself thinks that the company is overvalued, stay away from the stock! I can guarantee that much of the FOMO investors buying in now are doing so out of greed. Now, I'm not saying the stock won't continue to rise. WallStreetBets has certainly rallied a large enough army to keep the momentum going for now. But realistically how much higher can we expect the stock to rise? But after last week's gains, most of the move might already be over, and trust me when I say, this is not a bag you want to be left holding. So you might be asking what about me? Would I buy this stock? Heck no! I tend to steer clear from volatility and this level of risk. My focus is always on SRC Profits: Systematic, Repeatable, and Consistent . If you are investing your hard-earned money, there are certainly safer investments to make than a highly speculative social media short squeeze attempt. How to buy AMC shares? At the end of the day, if you still want to buy AMC shares, all you need to do is log on to your brokerage and decide how many shares you would like. With a stock that exhibits as much volatility as AMC does, you may want to consider entering a stop/loss to protect yourself from the downside, which almost always comes faster than you think.
NYSE:AMC
by rockwelltrading
2
$CLOV In Depth Analysis & Price PredictionsClover health has quite the catalysts not only fundamentally, but technically as well. Technicals: CLOV has been in a downtrend since early January, with an all time high near $17.00, and all time low of near $6.00. Quite the range. Fibonacci retracement levels can give us approximate levels of support and resistance once a breakout occurs. As you can see, the daily chart here shows a SLIGHT breakout (See B2) above the downtrend, as also seen in April (See B1). Another green candle above the downward trendline would give me further confidence of a breakout towards first $10.50, and then $11.86 following, the retracement levels act as price zones of support and resistance for my trading style. More on technical setup, we have a nice MACD convergence on the 1D chart, forming a nice consolidation for a breakout within the MACD, where I see a bullish reversal that can last long term. Fundamentals: Not going to lecture you on the company, but rather give you some interesting catalysts and factors that will most definitely play into the price. 1. Short interest is over 50% of the float, which to me, gives a lot of potential for a true squeeze, higher than GME and AMC. 2. Because CLOV is a SPAC, insider shares have a lockup as well as a predetermined price that the stock MUST be trading at for 90 consecutive days before insiders can sell. that price is $30 a share. Meaning if they want to sell their shares, price has to be $30 for atleast 90 days. 3. Short positions are in trouble near the $11 level, meaning above $11, nearly 100% of all short positions are in the red, and losing money. 4. Shares available to be shorted as of yesterday was only 600,000. With squeeze potential like this, such a large short percent of the float, and company insiders not being able to sell until $30 a share, expect nothing less of parabolic movement, but the real question is WHEN. Timing this will be a difficult thing to do, but I will be playing this with long term leap options as well as shares for accumulation. GLTA, in Chamath we trust, I guess.
NASDAQ:CLOVLong
by chartxzy
3
$PLTR Meme Stock with Real Fundamental ValueQuick update on PLTR, moving how I predicted towards its first target of $27. Red day today because of the meme stock price movement, but this company does in fact have true fundamentals and continues to sign deals with the US government as well as show YOY growth, data analytics will without a doubt be one of the biggest sectors in the near future, and one of the only positions I will accumulate steadily throughout my lifetime as an Amazon or Facebook of my generation. The price movement can also be reflected by the meme stock rampage currently going on, due to redditors absolutely loving the company as well as our faithful Cathy Wood that continues to BTFD. Palantir not only is an incredible growth company that I believe will have a significant value in the years to come, but Reddit also can and has been giving this some steam to break out even further. Options are interesting on this one, so I would say share accumulation is the way to go. GLTA, PLTR to the moon (Long term for good reasons).
PLong
by chartxzy
$BB Analysis & Predictions Based on Parabolic Squeeze MomentumWith BB now reaching a new high since the previous January squeeze, the level reached was approximately near the $20 Level, or the 61% Retracement level. It is now currently using the 50% retracement level of $17 as support for a potential next leg up. If parabolic movement continues in the "meme stocks" , you can look for your next targets of resistance levels near $20 (61% retracement) and then $24 (78% retracement). The zones are as shown on the chart, shows how these fibonacci retracement levels play a significant role in determing support and resistance on 1D chart. My position on this was strictly options, I purchased so called YOLO calls on Tuesday of this week 6/4 $16 Calls - 0.86 /c as well as yesterday at the close purchased 6/11 $20 Calls - 3.30 / c Sold the June 4's for 4.85 at the open today, cant complain about that gain and they expire soon, and I will hold these $20 calls for next week if the current support zone holds. GLTA, follow for more
NYSE:BBLong
by chartxzy
2
$AMC Price PredictionAMC printed a beautiful bull flag at the close today, bringing this higher after hours towards its 100% Fibonacci Extension level, price point being around $36.20. As long as we can hold this area as support, the next fibonacci zone would be between $36 and $57. As shorts cover, I expect this to be nothing less of parabolic as this new zone acts as support for the next wave move towards $57. Watch for this level, and be prepared for a minimal pullback near those levels. Until then, I expect tomorrow to bring us at least near $45, and with the stock offering being announced today, it definitely brought some negative sentiment that was reflected in the price action today.
NYSE:AMCLong
by chartxzy
Helium (HNT) trapped again!Hi there I miss my followers today I talk about HNT, Helium is a decentralized blockchain-powered network for Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT. The price trapped in 11 and 19 tunnel long and short game, babe Ciao
Short
by amirsediq
4
AMC looking extremely bullish after a perfect breakoutAMC has finally broken 14.5 for real and seems pretty strong. The more times this resistance is being tested, the more likely it is that the breakout is real. We have seen strong re-accumulation based on the volume profile in the 14$ area which just turned into support. Below I have the charts which unfortunately are in a format from tradingview that have to be clicked and they don't show up immediately (no idea why). The point here is that AMC has a significant short interest, there is a lot of hype and many diamond hands behind it... And is a company that benefits from the re-opening. This company almost went broke but now it is looking very healthy and the capitulation and the support from WSB has actually given the company a boost. Unlike GME the January squeeze was smaller and the second pump was a little cleaner and not as extreme as GME's. The current valuation of 6B in my opinion is OK, but the interest in the company from WSB + re-opening + relatively high short interest could make the price go above the old ATHs. For now the first target is around 17$, the second target around 21 and then we could see the ATHs at 35t$ get broken. It definitely wouldn't be that hard to test them and then break them as the stock is already only 55% below its ATHs, which were also a double top. Double tops eventually get broken except if the company goes broke, especially if they get retested after a 94% which is a great way to wipe out weak hands. For those in Crypto that follow me, you can go long/buy AMC on some platforms like FTX and Bittrex although they have commissions and they aren't as great as the typical brokers, but it is way to stay in crypto by buying tokenized stocks. On FTX and Bittrex you own the stock and can trade it 24/7, while there is also SimpleFX where you can deposit crypto and use it as collateral (so it is like 1Broker and has risks). There you trade CFDs with and you do it based on normal trading hours. s3.tradingview.com s3.tradingview.com
NYSE:AMCLong
by BitcoinMacro
1