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Alright bros, let's cut the chatter and dig into the numbers. In a week that’s seen both GameStop (GME) and AMC (AMC) shares double in price, we can't ignore the patterns emerging in front of us.
First, let's tackle GME. GameStop’s short-interest stands at 21%, with 20.31 million shares shorted. With a float of 56.92 million shares, it wouldn't take much to trigger another short squeeze should the momentum continue. Going by the chart, GME appears to be consolidating to go for another run up. Just a word of caution though, the RSI indicates it's oversold; could be a bear trap.
Now onto AMC. Short interest of AMC is 18.13%, with about 88.63 million shares shorted. With a float of 416.63 million shares, the numbers are indicative of some movement in the future. AMC's chart shows a double top formation signaling a strong resistance in the $20 range. Breakthrough here is a possible moonshot.
There's a reason the grey-beards in Wall Street are nervous. If we hold the line, we could be looking at another short squeeze. As always, not financial advice. Stay safe. Diamond hand it, bros! 🚀🚀🚀
Submitted 9 months ago by stocksRus
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Long time trader here. Tried and tested the markets - bears, bulls and now APES. While it's all fun and games, gotta say the fundamentals don't mean much anymore, not in this game at least. But who cares, right? Diamond hands, moonshots, and tendies! Let's get 'em!
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Good analysis bro, however, it's paramount to consider the overall market conditions too. Sure, short-interest is high, but we got other factors coming into play. Be mindful of the FOMC meeting. Stay safe and just like you said, not financial advice. Trade responsibly!
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