AMC AMC Entertainment Holdings Inc) offers an objective yet aggressive short entry here (~18.00) up to a relatively brief momo-fueled overshoot of the big 20 resistance level with a preferred swing target around 9.00. Note: Any equal or marginal new high soon would put in very large negative divergences.
My preference is to short a starter position (1/2) here around 18 & add to it if AMC approaches 20 –or- we get some decent evidence of a reversal before then. With my preferred swing target about 50% below current levels, a 15% stop-loss (on the average cost basis) would provide better than a 3:1 R/R.
The previous short trade highlighting AMC as an objective short while trading at the 14.32 resistance in the May 18th Trade Ideas video was good for a quick 2-day gain of 16% to the ~12ish target.