As of now, the MFI looks like it's getting overbought on the 1 hour. We are also going up on lower and lower volume, and it is also printing a 3 black crows pattern. I would not be surprised to see a small dip back to the 30 level, and then a close above 31.50 for tomorrow. A close at 30 or under would be pretty bearish, but it looks like we have carved out a nice bottom at the mid to high 20s.
Komentarz
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looks like it retraced to 31.53 after hours...this is my first target, but i'm still expecting at a test of the 61.8% fibonacci level which is marked as 31.36.
The deepest retrace would be the 0.786, which AMC loves to retrace to when making these upspikes. However, I wouldn't be surprised if it doesn't go below 31.30 for tomorrow.
@gencollado, may I ask why you think it will not go back to $40 this week? I have a feeling if we push past $35.50 we will fly upwards like a bat out of hell.
gencollado
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@CarlosBonilla18034, I think we end the week at around 35. That would still put us at around a 30% increase for the week which isn't bad. Besides, there's no way in hell the market makers are going to let all those calls go in the money. Citadel's time is almost up, but they're not going to pay out easily.
poulan9
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@gencollado, I think you are bang on and we are already up about 30% from the very recent $25 lows. Absolutely disgusting thing to say about MMs but you are right...this is the market we have. How avoidable do you think it is for MM to avoid the Jan call options bomb?