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oftenbach
Jan 29, 2021 4:02 PM

AMC breaking out any moment Long

AMC Entertainment Holdings, Inc.NYSE

Description

NYSE:AMC

Image at /x/itJKrlMI/

Looks on the hourly like AMC wants to break out of a massive triangle. I sense a major breakthrough any time now.

Trade active

195.66 @ an average net cost of $8.01.
Comments
LetsBeMillionaire
CMON BRO...STOP PUMPING Such overvalued stocks. we know its highly shorted. if something has to happen, then it would have happened by now. no chance of breakout now.
oftenbach
@LetsBeMillionaire, I'm not pumping it. I'm observing a developing trend and reporting it. Are you not seeing what's in front of you? A gain is a gain. I'm not espousing some sort of delusion about the company in question's "actual" valuation.
LetsBeMillionaire
@oftenbach, ok i see it. what is the target? after breakout
baggzy
@LetsBeMillionaire, lol you come at the dude like a jerk then ask for a PT? smh
Patl66
@oftenbach, still feel the same? Good to see it’s keeping its price in after market.
oftenbach
@Patl66, I think so, especially with the very positive price action today, which showed buyers absorbing near-continuous selling pressure (in stark contrast to yesterday, where each dip felt like another bottom caving in), and finishing the day almost 15% higher than close yesterday. And if you've got people buying $40 calls from you on Tuesday that expire this Friday at a $1.40 premium (about a fifth of the price of the security itself), that's gotta make one feel a little bullish, no?
Patl66
@oftenbach, wow really...so you bought calls, and now investors are buying them from you because they expect the price to be at least 40 + 1.95 on friday?
FORMER_WAGIE
@LetsBeMillionaire, if something has to happen, it has to happen after shorts are liquidated.
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