NYSE:AMC As GME and AMC are still trending in the news, and due to the fact that there is still 45% of the float short, AMC presents some pretty clear levels to trade off of in my opinion. This is a trade Idea for Monday. As I am a novice to this, any suggestions are welcome
so your making TA on a stocks thats been all over the wrold for the next nig GME and you really think TA can be used ? .. its waaaay out of anyone hands how this stock will react no FA or TA will help anyone here.
tidavido
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@SimpleinvestMarttin, you are right anything can happen, but I'd rather be prepared. We'll see on Monday... Thanks for the feedback
baggzy
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short float rose which is crazy too. also i feel like its tough to chart this with the blatant manipulation to dump the price on thursday. Monday will definitely be interesting.
tidavido
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@baggzy, thanks for the feedback. I also think Monday will be interesting. There's a 4th possibility I didn't think about which is price consolidation for a few hours in the morning because of indecision and another move to the upside later in the day. We'll see.
Midas4mark
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@tidavido, What would you recommend loosely as the sell target?
tidavido
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@Midas4mark, well I can't recommend anything but on the long side if support holds I'm selling half my shares after a 1pt move and holding the other half in case it goes higher with a stop slightly above my entry point. For example, if $16 holds and I enter @ 15.95, I'll sell half the position at 16.95 for a 1/share profit and let the other half ride the momentum. If it breaks I'll get out a bit before my entry point.