So what is going on with amc today? What's going on team, it's ricky with tackle solutions, amc showing signs of an overall uptrend, very happy that i made the video yesterday uh talking about that support level right around 35 a share. Today we began to trade above the ema line, which is right around thirty six dollars a s actually that was yesterday uh. I made that video sharing that you know after amc, getting rejected at around forty dollars a share pulling on back. This is the first time yesterday was where we began to trade above the ema on the four hour time frame.

That was a step in the right direction. Today we tested that ema with a slight pullback right at market open. We validated it as a support level, which is absolutely amazing and we shot right back up hitting highs of 38.55. If i'm not mistaken, let's go ahead and take another look: uh.

38.56. Sorry. 38.56. I'm up! 2.

800. On the day i reduced my position size from 2700 shares to 1600 shares, so why would i do that right? Well, amc tends to have a resistance level right around 40 dollars a share. So i want to see if amc can break above 40, but just in case it can't, and then it pulls on back. I at least have enough money left over uh, where i can buy at a lower price.

That's the idea of reducing position size at a potential resistance level, so i thought i would quickly talk about this, as i'm sure a lot of you guys are. You know wanting a quick little follow-up on amc, so very happy with that play, but a lot of people are asking the questions. I actually just took a slight position or a one-share position, and i want to share with you my open thoughts about ticker symbol car. Please take time to do your own due diligence but um avis or ticker symbol, car car as of right now reported earnings and it wasn't doing anything crazy during the pre-market hours.

If anything, yes can look even after market hours yesterday right it hit highs of 185. Overall lows of 166, so once the market opened, there was not any crazy activity, but it's when it really began to build its volume. This is what i want you to pay attention to. It went from lows of 170 right lows of 170 during the pre-market session to overall highs of 5.45, with within a number of what is that two and a half hours 222.

The reason i am talking about this is because of how risky it can be where it hit highs of 555 or 545, and it continues to get halted like every minute, so it almost becomes untradable, and this is something that i'm sure a lot of you guys Have experienced if you tried trading it today, where it's great, if you got in at a very early price, but for those that were getting in kind of late to the rally as all these different standards being begin to pick it up. Uh you become too late to the party and there's a quick and sudden drop right. It peaked at 5 45. It pulls on back.

It began to try to establish a support level. I thought i would have fun with it and i bought one share right. I'm not big when it comes down to these momentum, plays i'm not big when it comes down to these pump and dumps, and that's exactly what uh ticker symbol ca are today is uh. There was an interest right, and i wanted to ask you guys what you, who you think it is right.

Uh there was a so-called interest that there was about 37 of the shares. Uh available for avis were being shorted right, so there was a short interest right and who tries to again manipulate the price, not manipulate the price. That's not what i want to call it, but who tries to prove a point to the people that try to aggressively short a company uh that is nearly more shorter than it is going long right, um. So again, it wouldn't be much of a surprise and there's a lot of news articles that are now publishing it right now, where they're they're hinting on the idea that it's a mean stock as of right.

Now, i'm sure you can jump into a bunch of different reddit platforms and it's probably one of the most popular stocks right now. It's popping up on one of my scanners right here on the weeble platform as one of the top gainers, so we got c-a-r and o-l-b uh, so c-a-r was number one, but because of this quick pullback it aggressively began to pull on back again. Momentum plays are amazing when the direction is in your favor right. So if you go all in or you go in very aggressive with these players, you need to understand that they are super super risky plays and when anything shoots up that aggressively, you need to take into consideration that there's a great form of risk involved.

So if it begins to trade above the ema line and again a lot of that activity begins to be brought back into car, i can see there to be a second rally again. I went in with one share just to be able to just experience it in some form way at least follow up with it uh, obviously, even if it goes up to a thousand dollars right, i'm not gon na make a killing off of it. It's just one share, and even if it drops down to where it was before at 170, i'll lose about 150, which is completely fine um. I just thought i wanted to partake in that action and again i'm up enough in the past three days with amc that i'm not really sweating it right.

But i wanted you guys to be aware of what is going on. Not only do they report earnings today, but because of what they shared uh when it comes down to that short activity, uh there's a group, i'm sure that's choosing to make a point and almost cause this short squeeze where you know. In a sense, these people that were shorting, it will then have to cover uh and then creating a much bigger squeeze. So i'm excited to follow up to some degree, but i feel like when it comes down to something like car and it continues and continues to get halted.

It doesn't even allow any of this to actually play out according to plan, because it continues to really restrict traders to take advantage of that momentum and that overall volatility. So i hope that you can just simply do best what is or what is best for your future self uh. It has right now the direction's not in your favor, set those effective alerts uh, but just please please, please, if you choose to take advantage of it, watch that position size and make sure you manage and mitigate that risk. But let me know what you guys think about amc.

We are approaching that 40 resistance range pretty closely uh. Would you say that the moving average at based off of previous resistance levels uh should be a sell, or do you think that we're actually going to be able to break it bob? So you guys can. Let me know down in the comments section, so i hope that i ended your thumbs up. Please consider subscribing.

If you guys haven't done so already and we'll see you at tomorrow's uh live trading. If you guys haven't joined us, my instagram link should be down below you. Guys can feel free to send me a message on instagram live trading if you want free access to tomorrow's live trading session only if you have never tuned on in before so like always, let's make sure that we end the year on a great note: take it Easy team.