AMC 's CEO says no to bankruptcy and so it pumps LONGAMC on the 60 minute chart shows an early reversal out of a three week downtrend after
two months of a wide ranging price action that was sideways. The more or less takes
bankruptcy considerations off the table. In the meanwhile, the streaming services continue
to beat down movie theaters. No matter, AMC has new bullish momentum and the trading
volumes to support it. The PVT indicator shows the new trend. The TTM Squeeze indicator
triggering has relevance. The trend is your friend especially if you befriend it early. You never
know, the short squeeze Ape Nation has been hoping maybe just maybe could happen. I will
take a long position of shares here and insure them partially with a put option to cover a wide
stop loss of 15% given the expected volatility. For the shares, targeting 3.85 with 35%, 5.50
with 25% and the remaining 50% to run with a trailing stop loss.
