📈 $AMC and $GME Key Levels

These names will continue to be active today.

AMC

Between the two names, I am most bullish on AMC. You don’t have as many option strikes for AMC as you do on GME, which makes a gamma squeeze much more possible on AMC. The highest option you can buy as of now is $8.

Let’s also do some technical analysis to see where the stock could get to.

One thing that was fascinating to me was that the 200 SMA lines up perfectly with the gap fill. There isn’t much resistance until you reach that level.

That would bring you to $9.25 - so roughly another 50% move is possible from the after hours price of the stock.

I expect this to continue to be active and am currently holding calls on the name.

GME

Firms are not going to let GME get out of hand the way it did in 2020. Institutions are watching GME much more closely than AMC, which makes me think that it won’t have the same move.

See key levels that I am watching below:

Note that GME reached and rejected key levels while AMC still has room to gap fill. Also note that right now my target on GME is roughly $40 which would equate to roughly 33% gains as opposed to the 50% target on AMC.

I dive much deeper into my thoughts on the two names and how I am trading them in the video below.