What Is a Short Squeeze? A short squeeze occurs when a stock or other asset jumps sharply higher, forcing traders who had bet that its price would fall, to buy it in order to forestall even greater losses. Their scramble to buy only adds to the upward pressure on the stock's price
KEY TAKEAWAYS *A short squeeze accelerates a stock's price rise as short-sellers bail out to cut their losses. *Contrarian investors try to anticipate a short squeeze and buy stocks that demonstrate a strong short interest. *Both short-sellers and contrarians are making risky moves. A wise investor has additional reasons for shorting or buying that stock.
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Getting reading above 79.5, which we could get this week from the look at it would
suggest we are still in 3ed wave we have long way to go up. If this is the case,
and we hold this channel's bullish break out then 63 is the next target. Key here
watch RSI readings and a possible re counting for Elliott wave.