AMC breakout again here on the hourly time frame. We were up over 20% on the day shortly after the open, and have since cooled notably. These are some of the craziest flows I've seen in a while. This is pure gambling and the company is loving every minute of it. Mean while, insiders are dumping their holdings and taking advantage of the elevated valuations. Smart...
@Winks01, The breakout has already happened, as you can see.. Time to dump. Look at the price action now...
Winks01
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@Hedge_Of_The_World, i only see green.... dont go down the dark path my friend
Hedge_Of_The_World
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@Winks01, Hourly showing potential retest of 50. I agree with you, though, shorting any of the memes in the midst of a breakout is nuts. There's zero price discovery right now. s3.tradingview.com/snapshots/n/NeMmPV1B.png
Could just be a final pump before people realize the trade is over. Seems as though this infinite moment is over and people are quite cautious to add in 55-60 range.
Hedge_Of_The_World
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@j2goldsmith, Totally agree. I think we may see some noise on the hourly, but on the longer time frames, AMC looks like a falling knife.
Orcishruler
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@Hedge_Of_The_World, I agree. I just don't know how quickly it will fall. Should be interesting.