Great entry point at current price before earnings report tomorrow AMC. Incredible technicals throughout for this stock, could quickly see 19-19.50 with highs of 21 post-earnings day. GPS is bullish as long as it doesn't go below 16.07 and closes today and tomorrow above 16.26.
Trade closed: stop reached:
IMPORTANT NOTICE: The above chart is annulled as a new confirmation emerged. The stock should have closed today above 16.50 but did NOT. This already reverses the bias of the stock to very bearish. The stock would have to stay above 16.07 and close above 17.00 tomorrow. Unless this happens, you can short the stock to as low as 12.50. Didn't expect it to close this low today.
Comment:
GPS went down below 16.07 making it now highly likely to gap down tomorrow. (SHORT)
Comment:
Chart remains bearish, even with the current pump. Pump's high can reach around 17.50. Strong-sell signal is below 16.20.