AMC and Gamestop Pinned to $40/$200

optionsgambler

optionsgambler

It seems like for months that AMC and Gamestop have been pinned to $40 and $200. Every time these deviate above or below these targets, it seems like we gravitate back.

Is this just my imagination or are there real flows that are pinning these stocks to these price points?
 
both of them are in their comfort zone / converging triangle formation / moving in a small range.

They will remain in their comfort zone over the next few weeks/months/years/decades ....
until there is some major news/events/miracles/crisis/manipulation ...
 
The "to the Moon crowd" will not sell or take loss
And hedge funds and short sellers have stepped back.
It show how important short sellers are to keep a stock price honest
 
Mercor said:
The "to the Moon crowd" will not sell or take loss
And hedge funds and short sellers have stepped back.
It show how important short sellers are to keep a stock price honest
More...
I still would expect gradual down flows, you eventually need to sell
 
I don't really agree with your premise. GME may avg around 200, but its movements are fairly predictable between 175 and 245, which is a pretty significant spread. I've been day trading it all year pretty accurately, and would have a great year if not for the miserable failure on other stocks.
 
VicBee said:
I don't really agree with your premise. GME may avg around 200, but its movements are fairly predictable between 175 and 245, which is a pretty significant spread. I've been day trading it all year pretty accurately, and would have a great year if not for the miserable failure on other stocks.
More...

The effect of one screaming cat. Fascinating.
 
Overnight said:
Roaring Kitty.
More...
ok.. I don't follow the Reddit crowd and had to look him up.

Yes, I started looking at GME following the craziness around it and TOS tells me I traded the stock 164 times since the beginning of the year.
 
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