Wallstreetbets

 This is a follow up to yesterday's post . #AMCSqueeze is trending on Twitter as retail buyers are trying to push up the stock. But the next squeeze candidates according to Wallstreetbets chatter are UWMC and MVIS, as well as the bitcoin mining stocks MARA and RIOT. We are going to throw in SPRT into the mix because it's overlooked and actually has the highest short interest of all the squeeze stocks.  First off MVIS. We said over the last several days that it's been hovering just under its 50-day MA, which acted as a resistance. We expected a break through and that level to become support as MVIS squeezed back up to $20. That happened yesterday and it has continued today, with a beautiful looking chart breakout: We can see how important the 50 day MA is. In March it touched this level of support at $10 then ran to $18 over the next several days. At the end of March it broke through this resistance at $14 to once again pop to $18, but this time around support was weak. The ...

#AMCSqueeze is trending on Twitter as retail buyers are trying to push up the stock. But the next squeeze candidates according to Wallstreetbets chatter are UWMC and MVIS. We are going to focus on MVIS because it has the best chart and short interest of the three. The stock price has stabilized over $14 after a 50% retracement from the recent squeeze three weeks ago. While it has been stabilizing, it sits just below the 50-day moving average which acts as a resistance. However, if that resistance is broken through, it becomes support and it can easily bust over $20 again. The 50-day MA is $14.91 while the stock is around $14.60 as we write this. Edit: MVIS ended up closing at $15.19, and broke through the 50-day MA with relative ease. We see what happened at the end of April the last time that happened.   Shorts have been increasing their attack recently, criticizing the company's lack of material revenue and doubting its ability to compete in the LiDAR industry. Despite multiple s...

It's time to load up on MVIS again. The stock price has stabilized around $14 after a 50% retracement from the recent pop from $10 to $28. While it has been stabilizing, it sits just below the 50-day moving average which acts as a resistance. However, if that resistance is broken through, it becomes support and it can easily bust over $20 again.  Shorts have been increasing their attack recently, criticizing the company's lack of material revenue and doubting its ability to compete in the LiDAR industry. Despite multiple short squeezes already, short interest is higher than ever with more than 31 million in shorts outstanding as of 4/15.    The last short squeeze at the end of April may have forced some to cover, but we think other shorts have taken their place. Bears point out that MVIS has not been successful in marketing a product at mass scale in the past and conclude that it won't succeed in LiDAR either. But these people refuse to understand or want to scare invest...