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tidavido
Jan 30, 2021 12:51 AM

AMC trade IDEA  

AMC Entertainment Holdings, Inc.NYSE

Description

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
Comments
FibGann
Like most of the most active list, AMC is bankrupt junk. They are not making money. Shorts will blow up the charts.
tidavido
@FibGann, lol we'll see
mickeyrchelipilot
@FibGann, then go short it, I dear you. Money talks.
tidavido
SimpleinvestMarttin
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
@SimpleinvestMarttin, you are right anything can happen, but I'd rather be prepared. We'll see on Monday... Thanks for the feedback
baggzy
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
@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
@tidavido, What would you recommend loosely as the sell target?
tidavido
@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.
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