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$AMC short trap today and $100 is very likely next week.

Looking closely, I think AMC today's action is a big short trap. More people will expect AMC to hit $30 to fill the gap below. However, AMC seemed to bounced off long term trend line ( as shown) very nicely. If this strong trend line hold, I'm seeing AMC above $100 next week.

To be more specific, so many people drew the bull flag and see support at $50. Because it broke $50, shorters are more encouraged and add more positions. I think $41.5 is the real support as shown in the chart.

Also, the way $SPY being very shaky this week, I think it will broke down sometimes this week and early next week. Once all the smart money get out of SPY stocks, with all that cash, they will pour into meme stocks once more. This scenario is very likely imo.

Update: Because you ask, here are my positions.

And also check investment fund new position on AMC (Fintel)

submitted by /u/TruongNiem
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