What's up you beautiful people, it is your boy trey from trace trades back in the armpit of the united states. As you can tell, we have the og lamp, the og subway cup, the og mugs cuckoo with crisco sitting here on the desk. I got ta lie. I'd be a little bit sad if i said that back in the hotel room, but that's okay, that's all right, we'll be back in north carolina.

Eventually, it is going to be the home residence, but, as you can see, we want to go over some amc news here. This is obviously something i was not able to talk about yesterday, for when act, when it actually came out was friday right, i was driving the entire day, but nonetheless we're going to dig into this right now. First, i want to say obviously i'm not a financial advisor, not financial advice. You know the whole deal, take what i say: the grain of salt, so as per usual, let's get into the video.

So, as you can see here, amc had a huge seller and that was wanda right. The way this is being painted and some of the fear, uncertainty and doubt the flood that's been spread by a lot of the mainstream media and, honestly, you know some of the bots that i think are ingrained in the amc community because believe it or not. I can nearly guarantee you. There are bots that are ingrained in the amc community to try and sway you away from opinions right, the good opinions, the truth, the facts, the actual tangible things on amc.

We have good news here right. There really is so, as you can see here, want to sold at stake over the past week. They sold a lot of their shares on friday, leading into friday right, as you can see here, it comes out from may 13th through may 18th. They sold about 30.4 million shares with about 10 000 total shares remaining, and i kind of want to speak on what i think this ended up doing to the overall price action.

And then i want to show you some some other stuff that adam aaron had to say and honestly my closing thoughts on the truth of what's been going on here. Sorry well, this comes out too. If you look at this may 13th through may 18th right where's. This line up to it lines up very, very well with this 14 touch point right, so you can see 14 14 14 for 15.80.

Then you've got the 18th this last day, where we consolidated and after that it sold off pretty hard. So we don't know if they ended up contributing in the least bit to this overall sell-off that we saw leading into may 19th. They likely didn't. Since we see that you know they, they didn't end up selling their shares on the 19th.

However, that would just validate to me that there is, but some shorting that has been taking place, so i kind of want to give you two thoughts right. There are some things that were taking place over the last week that we were a little bit confused. About short interest was going down on paper right on ortex and the the price wasn't going up and if you come over here to ortex and look at the overall data right just add up the map. You can see that there was a decent amount of shares on loan that ended up getting returned.

We're saying about 124 million total shares on loan, as it sits right now was previously at you know, 146 million about a week ago. Well, juan has sold about 30 million shares and the short interest has gone down. You know, obviously, in tandem with that free float on loan going down as well. So what i think is that one of the selling shares ended up negating that cover effect, that you would see typically on shorts, covering positions and that's kind of why you didn't see that clean break over 14.50.

In fact, this hypothesis came originally from joshua james on twitter. He he actually guessed that this is exactly why we didn't get that break over 1450 before the 13 f's even came out, and it was revealed that wanda even ended up selling shares on amc stock. So i think this is why we didn't get a clean break over 14 and 50 cents and there's actually good news in this, and it is this right. Obviously there was somebody who purchased those 30 million shares if they sold them and every single transaction every single trade there is a buyer and there's a seller.

If juana sold 30 million shares, there has to be a buyer that was able to buy those. 30 million shares you know what that is, it's likely retail investors, it's like the apes man. It really truly truly truly, is it's just more shares that are in the hands of retail investors and adam aaron has actually spoken on this right with no controlling shareholder in place. Now amc will be governed just as is most other publicly traded companies with a wide array of shareholders, and what does he mean by this? Well, it's very very freaking apparent right.

We know there is over 3.2 million total shareholders that have stake in amc stock, as it sits right now right and it's likely higher than that, because adam aaron is actually sending a dm to a different ape out there. That is only including the us and canada. So this is not including anybody in europe, asia, africa, right a wide array of different places who likely have amc, shareholders and investors right, so 30 million shares in the hands of apes. What does this actually end up doing right? Well in the in the short term? Yes, we didn't get that break over 14.50.

Another adverse effect may be. If you don't have enough runway on call options, you might have those that don't expire in the money, which is why we say two things right. We say: hey, you need to give yourself a decent amount of runway. If you want to play call options because they're risky - and you don't know some of the things that can happen right, that's what that's why we give ourselves a further expiration paid decent premium so that, if things don't go to plan, you have time for them to Come in the money and at least hold on some of that intrinsic value, and secondly, there are uncontrollable factors in the stock market such as this, such as wanda selling some of their shares, but, like i said this is this is good news, not bad news.

It is because of this right. It raises the ceiling, the overall ceiling and the controllable factors for the apes right. I truly 100 believe that wanda getting out of their stake, their shareholder stake at amc is just it just means that we have more control over the float right, which means. Ultimately, this is the whole hypothesis behind the squeeze guys.

It is the fact that we get to decide as individual retail investors how high it goes, and that is because we control the float right. The more shares in the hands of retail investors in the apes hands, the more likely you are to see. You know that overall ceiling that you are hoping to look for right, so the fact that ronda's gotten out does not bother me the least bit. In fact, i am absolutely jacked about it.

I couldn't be more excited because this is like i said it just gives us more leeway and more actual control over what is taking place in the overall stock market. So that's kind of some of the fun that i've seen going on with the overall. You know wanda selling thing the way the media paint stuff is absolutely freaking bananas. Absurd, i mean it makes absolutely no sense.

I mean in a normal world: yes, a huge shareholder selling off stake in a stock right that would that would scare the crap out of you, but there's a lot of you know. Political stuff is going on in china, i'm not going to get into that too much. That could be the actual reason why one has been unwinding on their shares. So that's kind of why i think wana has been unwinding.

This is why it, you know we didn't see the push over 14.50 and it does explain why hey we had a lot of shares on loan that were returned, but didn't see the push up in price action. You know that should be associated with that sort of returning shares. It's likely because wanda ended up selling. You know 30 million shares of their stake.

However, there is one last thing that i want to say: that's that they help they still have a small small small stake in amc stock. Now, why don't they get out? You can see some pros, and some cons here pros will be some possible pros. Well, they could be anticipating that there might be a nice push in price action over the next. Who knows a couple weeks month, two months in which they'd be able to capitalize and sell the last of their ten thousand shares to make it a little bit of profit? That's a pro right! What's the con? Well, the worst case scenarios that held onto those ten thousand shares for absolutely no reason and if they sell them, ten thousand shares is nothing.

There are some people out there who own ten 000 shares some apes out there. That would get scooped up in the blink of an eye right. It wouldn't make any difference in the price action if they were to sell that. So i really don't see any downside of them holding those last 10 000 shares.

Nonetheless, that's kind of what we've seen cooking up here with amc, and i want to get into you know the technicals. Now, since we we, we kind of have a brief understanding of what has been going on with wanda and them selling their actual stock in the company. So, as you can see here, we've been kind of trading back and forth between this. This overall fibonacci retracement and the fibonacci retracement comes out to about this 12 dollar mark to about 1280 right.

You can see that it's been bouncing back and forth back and forth back and forth mostly staying above 1225, because this was a previous level of support. However, that 12 retracement does come out to that 61.8 percent retracement on the fibonacci. So if you were to draw up this fibonacci retracement here really quick, you can see that it lines up pretty dang well at that 12 mark right. So i we hypothesized this here at the channel quite a while ago.

Saying hey, i think if this pulls back, if we don't end up getting that clean breaker for 14.50 you're likely going to see this trade back and forth and consolidate in this fibonacci retracement zone between 12. You know at 12 and 1280 until it ultimately ends up getting some momentum and bullish action back towards that 14 range. Do i know if it's gon na come back to that 14 range here tomorrow? I don't. I can't tell you that right, but i'll give you some hypothesis and i'll give you some some thoughts that i have in regards to what you might be able to see right.

So, ultimately, we're still looking at 14.50 as the ultimate technical breakout level to get us. Some beautiful bullish momentum and back up to that 15 16. 18. 20.

25. 30 range right. That's going to be to me the catalyst of the squeeze unless some huge breaking news catalyst comes out here in the near future. That is going to push it.

You know outside of just technicals because, as we all know, news catalyst will always trump the technical setup on any given stock right, but even still saying that if you're just look at living in a vacuum, looking at amc chart as it is with with absolutely no Nothing else to know this is what we've got cooking up right now: right, we're still trading in this fibonacci retracement zone, this 61.8 to 50 retracement. What i see next is a level of resistance at 12.80, which is ultimately going to bring us if we break that. So this 12, this 14 range and then 14.50 as the ultimate breakout level. So what could end up happening right? Well, what i'm hoping for is that we continue to consolidate in this overall zone.

You might not even get a clean break on this. First. Try we've seen that has tried to break it one times two times three times and typically in amc's trends in history, we see that it gets clean breaks on four tries of any level of resistance. You can see it here right, one two, three, four, four four times to touch that 14.50 ish scent mark got a clean break, ended up moving up right.

You can see it right here. One two three different times i tried breaking about 10 56, got a clean break up. You can see it back here right, one two three times and it tried to break about 968. Fourth, move got to break up, that's a trend that has repeated itself toledo.

That was a weird sneeze. What the heck was that excuse me so with that being said, we can see that it's tested this for. Oh, i should. I thought it was four times, but it hasn't been one two.

Oh, it has been four three times anyways. So three different times that it's tried breaking 12.80. So what i'm hoping for is this right? A fourth test, and i think this fourth test is going to get it. I'm gon na be honest with you and i don't know when it's gon na happen.

It could happen immediately market open. It could take two days, but ultimately it's this we're gon na retest, twelve dollars in eighty cents, and i think this fourth time is gon na get it right. We've seen that before we've seen that it takes typically four times to get a clean break over any level of resistance on the amc charts, and that is a trend that is, that is three four five times: that's not a coincidence right. That is.

That is proof. That's things that we can actually define and say moving forward. This is something that we might be able to expect so this fourth time that we test 1280. I'm thinking we're gon na get a clean break and a clean break looks something like this wide range candle bar one hour candle that opens with lots of volume that falls through right, get a clean break over there's no hesitation, you don't get something like this.

You don't want a wick right, you don't want a one-hour wick, that's not a breakout, so looking for a one-hour candle that opens above or closes closes above that overall level of resistance right. So, ultimately, next couple of days, i think this this next week is going to be overall bullish unless the second case scenario comes to fruition, which i don't think is very likely, but we'll paint it out either way. So if it does not get this clean break over 1280, what will happen is that is it's going to break that 12 mark and where's the next level of support from that 12 mark it's about 10.67. Now i find it very very unlikely that it comes down to 1067, but we do want to prepare for the worst case scenario if that is to come to fruition.

The reason i don't think it's very likely is because, if you look at the daily candles right, you can see that we ultimately continue to set higher lows and higher highs very, very regularly leading up to this 14. 50 cent. Uh, you know level of resistance. That's gon na bring us to where we want to go higher low, higher low, higher low higher low right, and it's very high separation between this and this zone right here.

So ultimately, if it does pull back, it is possible right. I can't guarantee anything, but if it does, i think you really are looking at that ten dollar. You know that ten dollar in some change mark where it will ultimately pull back to if it were to do that right. So that's kind of the less likely scenario.

More likely scenario to me is that you do see that test of 1280 might take a day. It might take two days right and a clean break which is ultimately going to get us up to this 14 range and i'll say this: every single time right, you're, looking for rips hard, hard pushes up up and above followed by periods of consolidation right. So a hard rip above and you're, ultimately going to see it. Trade sideways and sideways doesn't mean that it's not it's going to barcode right.

Barcoding typically means that it just you know trades back and forth for pennies penny spreads over and over and over. That's not healthy price action. You don't like seeing that consolidation means that it trades back and forth between a zone like you see right here. This is consolidation.

This is consolidation between twelve dollars and twelve. Eighty and since the grand scheme of things this is bullish right. It's continuously setting higher lows and higher highs. That is bullish right.

You do like to see that so, ultimately, that's what i want. I want to push over 1280 right, a nice rip above the back of that 1350 range. It consolidation for one two three days: whatever it takes to get back up to that 14 range and ultimately test 1450. That to me is the most likely scenario like i said: if it does not get that push, i think it's going to ultimately break this 12 level of support and ultimately come down and test this 10 and 30-ish cent level of support right.

I am absolutely 100 bullish on amc, as it sits right now. Obviously i i really enjoy seeing that wanda is honestly. I don't mind them being out right. They can get out.

Let them out right, because apes have so much freaking power. We live in a new time in the market, the old school, fundamental analysis, style of the market, the the the time of freaking, hey. We pay attention to what a company was worth. You know this last quarter last year, last two years, we're moving into this now.

There's bulls, there's bears and now we've got freaking apes, they say bulls, make money, bigs, make money, pigs, uh, bulls, make money, bears, make money, pigs get slaughtered, but now you've got bulls, make money bears make money and and the freaking apes make squeezes happen. So that's what i'm watching for here guys it's a it's a good day here on sunday! That's what i've got for the video! So thanks for watching my friends, my family, my fellow girl, gang blah, blah blah drop a like consider, subscribing whatever you want to do. Catch you on the next one, much love and peace.