Let's go, oh my god. What is up everybody welcome to trace trades. We have technical analysis and different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks. I can profit by saying that i'm not a financial advisor nor expert.

So take what i say: the great assault, let's get into the video. So today, my friends, my family, my fellow gorilla gang we're gon na, be going over ticker symbol, amc again, obviously, here today let me take a quick sip of my dad coke from subway for anybody curious. I didn't get a meatball pepperoni today. I actually got a spicy italian on flatbread, pretty freaking decent sandwich, but i want to go over the overall technicals on the stock.

Give you my thoughts on what the heck is going down right now, and then i want to cover the ortex data, the short sale volume ratio, data and my thoughts on what we can expect here down the road. I want to preface this by saying that i did purchase some call options today. Okay, i picked up some ones that are risky, so i want you to know they're risky if you're not familiar with options, know there's risk involved with options right uh. We actually talked about this pretty specifically and i'm gon na go over all the indicators and the technical analysis here in a second, but we have a very, very good potential of a repeat trend playing out here on the charts, i thought that we would see a Bounce off of about nine dollars and sixteen cents, it ended up dipping a little bit below that at such about nine bucks or so.

But i say this because we see this exact same trend playing out from where we saw back here between uh early february and late february. I i kind of came up with this conclusion right, so history repeats itself. I don't think that any trend or any correlation is by accident. I think that, most of the time 99.9 of the time, it is because history repeats itself right, and we saw this triple top setup, one two three times that it tried breaking this resistance line at about 657 couldn't get it and it would bounce back down about 526, until the fourth time it was successful and led us to about a 10-day process in which we hit about 14 bucks right.

So with that being said, i see this exact same trend playing out. I mean there's a little bit of a difference right. We see that it broke this actual support line here momentarily for a short little while, and it very well could do that again right, we don't know exactly what's gon na happen, but i saw the same trend playing out. One top two top three tops, and it's testing this a fourth time, and if this trend plays out the exact same way that it did the previous time right, we can expect that it'll test out eleven dollars and twenty cents.

This isn't gon na happen overnight right. This is not something you're gon na wake up tomorrow and all of a sudden you're gon na see 11 bucks, but i do think that it's very possible. We see 11 20 within the next one two three days or so there's a lot of good things coming on the horizon, i'm actually going to make a very short video like a four or five minute, video after this to post, it's gon na be talking about The expected eps earnings per share - and i want to talk about the vote - getting pushed down to the right, but i'm going to keep this purely based on the technicals on the data, and we can talk about that so based on the technical analysis, there's three things That i look at in terms of indicators, i use overall volume and i look at candles and trends. That's literally it right.

I keep it bare bones simple, because i think this is 95 of what you need to understand the psychology of. What's going on in charts right, so we see that we have this trend playing out one two three times a bounce between this trading channel between 11, 20 and and this fourth time it looks like it may very well get a bounce. Yet this is not a definitive bounce right. We need to break this descending level of resistance for confirmation that we are back in bullish territory back into setting an upward trend line, but it's the first step right.

So what are we looking for next? In order to signify that this is back on track back into the upward and upward moving channel, you want a one hour candle that opens and closes above this descending level of resistance. What is that going to look like right? So, let's just say tomorrow at market open all of a sudden, you see a candle that moves from 946. All the way up to 975. opens and closes above that and you either consolidate or you you form a slight upward trend.

That is picture perfect. That to me, is going to indicate that we have gotten that significant bounce off of the 916 level of support, and we are back in a good bullish territory. We haven't had a good day of consolidation, yet consolidation is always getting ready for the next leg up. Here's an example right, so we saw a nice push from this level of support 914 up to 979, consolidated for a little while ran up again and then consolidated for a straight day right forming this big george.

W set up right here - and this is a picture-perfect uh setup for consolidation, getting ready for the next leg up. So ideally, what you're looking for is this right. Maybe tomorrow we get a nice green day. Maybe it'll be a george w set up right, maybe we'll bounce off of 916 again and then we'll get that significant bounce up over this descending level of resistance, which is going to bring us into the next leg up, but overall right.

What you're looking for is this stair stepping uh period, where it moves little period of consolidation period, where it moves a little period of consolidation right following the slow trend line up where we can get a nice bounce back to about 11 and 20 cents, we've crossed Box one right box one is we get the beginning of the bounce off of nine dollars and 16 cents? Now we need to get that bounce back up to eleven dollars and twenty cents, which is why i picked up some of those nine point. Five dollar strike: uh amc calls they expire next friday, so i picked up about a thousand dollars worth, not because uh you know i not, because i i'm trying to gamble anything like that. Obviously i think it's because of this significant trend. Right we've seen this play out time and time and time and time again.

This is an opportunity in my eyes, but, like i said, there's risk involved with options. If you're not familiar with options, no, they are risky, don't bet anything you're not willing to lose right. That's very significant important to say, but nonetheless we're seeing this trend over and over and over and over, and it's an opportunity to make a little bit of money on the way up. And you can reinvest that back into stock uh.

If you'd like to do so. That has been my plan and anytime that i've been profitable on call options on emc. That is what i've personally done. I also have some june 18th uh 13 strike calls now they're, not very deep about the money for a specific reason.

That's because there's a large amount of risk associated with having calls that are very, very, very, very deep out the money, because, if you're wrong, you lose all of that, there's no intrinsic value in and out the money stock right. If you want to buy in the money stock, uh or options, i should say: there's more intrinsic value. That's held onto that option. It's just not going to be as profitable right.

You make more money on more risk. That's essentially what it is, but that's why i picked up some 9.5 strike calls today. They are expiring next friday know that there's risk involved we're just going to keep moving forward. So this is what you're looking for this is what i'm anticipating is going to happen.

We got the beginning of the bounce off 9 18. watch for a one-hour candle that opens and closes above this descending level of resistance and then watch for that slow, stair stepping up right. It's gon na look something like this stair step: consolidation, stair, step consolidation, stair, step consolidation, stair, step, stair, step, stair step, it's about 12, 22 right you're. Looking for something like that, and we can look back actually to the 14 run up and you can see very, very similar price action outside of this little asterisk right here right.

So what do we have? Stair step? Consolidates stair step consolidate stair step, consolidate stair step consolidate right, that's what you're looking for! So, look for that sort of setup and you're going to know that we're going in the right direction, the more explosive the growth, the more likely you are to see an equally explosive uh implosion. So that's what you're looking at on the charts right now and that's what i think is important: we've got the 15mm that's hooked underneath the 200dma. That was a couple days ago right. I've warned this is a little bit of a bearish indicator.

That's why i thought that we'd see this bounce down at about 9.18 and you're. Looking for that 15ma, which is the short-term microscopic price action, lagging trend line to start hooking back in towards this purple trend line, which is the 200 ema, the exponential moving average. If you get that, that is going to be a sign that we are back in good bullish territory, it's a lagging trend line right, so it doesn't indicate that something's going to happen. It shows you previous price action, but if you can look at previous price action and see things that it correlates with right, you can take a good stab at what's about to happen.

For instance, here right 15 ma levels out it starts hooking up. You can anticipate that you could see a nice push back up to that 200. Ema. So watch for something like that.

That's what i'm watching for as well volume is still nice and decently consistent, still low right. It's not enough volume to get a good squeeze, which is why i said i just don't think it's here yet we're waiting on it could take a couple weeks. It could take a month. It could take two months.

There's a lot of catalyst coming up forward. That could push this sooner right, but this is if we lived in a vacuum, if we lived in a vacuum, i just don't think we're there yet we're getting in the right direction. Right, we're stair-stepping! Once we get that break over 11 20 and then we get that break over 14 bucks, which could take a couple weeks right, we're cooking with crisco so watch for that, my friends, that's what you're looking at right there! Next, i want to show you or text. I just want to go over the overall numbers that we're looking at and the short interest is actually went up again today, so that is good to see.

We got 0.92 percent short interest change, uh, which is almost a percent gain we're back almost to about 23. Current short interest percentage of free float, the free float are the shares that are available uh to everybody after institutions and insiders have gotten their cut of the pie. Utilization back at a honda baby, which is absolutely beautiful. The cost of borrow is about consolidated or so days to cover going up.

Dasa covers a short interest divided by the three month average volume, and you can see that the two week actually is a lot higher than the three month. And that's because the volume is a lot different in the last two weeks than it has been over. The last three months take that bottom denominator, right and you're going to see that the actual number is changing. Shares on loan also went up today.

Free flow alone went up today. Short interest went up today, so we are trending back in the right direction. You can see this is validated by the fact that the actual short volume percentage has overall been trending upwards in the last week or so right now we had a little bit of a down day on the third. We haven't seen the fourth, yet i'm anticipating it's gon na be pretty decently high, but we're starting a little bit of a new uh ascending level right.

So if you're 37 is a low here, 41 is a low here. I would not be surprised if today, when this information is released, is a little bit higher, maybe somewhere in the 45 to you know 50 range or so that's about what i'd be looking for to see that we are still being pretty heavily shorted. Nonetheless, 41 percent - absurd, can you imagine shorting amc wouldn't be me, makes no sense at all makes no sense at all, but that's what we kind of got rocking here today. So i've seen a lot of people talking about that bounce off of 9 15..

I i think it is going to come to fruition, but we haven't got that confirmation, yet so don't get too excited right. We we're not quite out of the clear of this, this bottom level, we're looking for something like this right, stair step up, consolidate, stair, step up consolidate. You want a clear, hard bounce and engulfing candlestick pattern that, to me is going to say that we are good and cooking with crisco and we are about to begin the next ascending level of support of that next upper moving channel. And that is what i've got for this video here today, so i'm going to make another one talking about the expected earnings per share, as well as that shareholder vote, getting moved down, so you guys can uh look for that down the road.

I don't know why. I'm playing with this cabin i've got a little bit of a fixation thing. I always like to fidget. I've got too much energy, but nonetheless that's what i've got for you guys today.

So if you enjoyed the video blah blah blah consider subscribing like like the video, you know the whole spiel, that's what i've got for you guys. So thank you for watching my friends, my family, my fellow gorilla gang, much love catch you later and peace.