Moon gang, i hope that you're having a phenomenal day, this is your weekend update for both amc and gamestop and boy. Do we have some important things to talk about so just to set the scene a little bit to close out the third week of trading? In may, amc was at 12, 15 and gamestop was at 175.26 in terms of the short interest numbers. Gme is sitting at 20.43 current short interest based on the free flow. On friday, we saw a net borrow increase of 57 000 shares the utilization sitting around 63 percent, and the shares on loan is 14.54 million and in terms of the days to cover based on the two-week average.

We are looking at 2.7 days and in terms of the technicals, this is gme's daily chart. Just so you know, over the past week, game stops up 10.55 percent and from the start of this calendar year until this very moment we're up 838. That's absolutely incredible! So, in terms of the technicals, what i will be looking for this upcoming week is basically a continuation of this pattern from may 11th up until may 18th, very very nice movement in gme. It consolidated the rsi was just getting a little bit hot, especially on the 30 minute and the four hour time frame from there, though we recaptured this trend line and i'm looking for this kind of miniature cup and handle to play out.

Basically, we went from 190 back up to 190 second rejection, but we have a new higher low, which means that the bull camp is starting to step in earlier. I'm looking for this third test and knock on wood, hopefully a breakout of 190 from there, i'm gon na watch the key psychological level of 200 and past that i'm gon na watch the top end of this trendline. Please, please do not sleep on gme. I know it's been low volume recently kind of also low volatility, but what we're seeing from a technical perspective, i mean it's going up like it's starting to trend very very nicely, so do not sleep on gamestop.

Let's talk about what's going on in amc. First of all, a little bit of a fundamental update right here, box office f9 speeds to huge 162.4 million dollar start overseas dominated in the chinese box office. Remember it hasn't even hit the u.s market - that's coming in late june, i believe around june 25th. But obviously, if this movie does really well, that's a nice fundamental catalyst for amc and then also don't forget about black widow, which will be coming out in early july.

So back to back, we have two movies that could absolutely dominate in the box office. Very very good for amc in terms of the short interest numbers on friday. We saw a little bit of a different trend. Early last week we saw that there was net returns.

Every day, friday was different. There was a net borrow of 3.3 million shares, which puts the current short interest percentage of the free float at 15.28 utilization 97, almost at that 100 max value and the shares on loan currently sitting just around 124 million. So if you take this into account, we're probably gon na start off monday. Around 127 million shares on loan in terms of the days to cover, based on that two week, average we're around one full trading day and the other thing that i don't talk enough about.

But i do want to bring to your attention right now: here's the on loan, so basically, this is how long people who have been borrowing the shares on loan, how long they've been borrowing them for we have seen a massive run up from 18.5 days. At one point, we were up to 53 but keep in mind that the people who have been renting these shares out and most likely a high majority of them are actually short against amc. They've been in this for 46 days. Why is that important, remember to lend out shares like when you're actually borrowing them too short, you're paying a fee every single day, every single day that amc's going sideways going up right here, they're paying an extra fee? This is getting very, very painful for them.

If you own amc, it's nothing, you own it and it doesn't cost you anything besides your initial investment for them, don't forget. Not only are they most likely under water on their short position, but beyond that they're paying a fee and they've been paying the fee at on average, now for a month and a half that is very important to note the longer. This goes on their potential profit for them, betting against it gets less and less because, as we drag this out, it's more painful for them. That is very important to notice beyond.

I do want to do the technicals, but another thing i want to bring up just in terms of data right here is: if we look at the options market, don't forget in terms of big money, i'm looking at the june 18th expiration date come down to the 40S, there's a hundred and thirty three thousand open interest. That is a lot of money, betting on amc, making some sort of considerable move between now and june 18th, and obviously big money doesn't always get it right. But it is interesting to know how big this bet is getting and that's at 40.. Even if you look at the other major increments 25, you have 12.

000 21. You have 19. 000 20. You have 34 000.

I'm just trying to illustrate here. I mean 15. You have 38 000, i'm just trying to illustrate the size of money that is expecting amc to make a move between now and june 18th. So something worthwhile to note and then in terms of the technicals.

So over the past week amc has come down 6.9 percent, but don't forget from the start of the year. Until this very moment we are at 470 and even with that seven percent decline. Please don't forget that from may 6 up until may 18th. At one point, amc was on a 63 rally.

I don't think it's that big of a deal that we came down, seven percent - i get it, i'm an ape. I'm on your side. I very much want every single day to be a massive green day, but at the end of the day, that's not really how stocks work you run out of bullish momentum. You run into things referred to as volume exhaustion.

So the fact that we had a 63 rally and now we're giving back seven percent of it - i wouldn't really classify that as a loss. In fact, i wouldn't classify it as a loss at all in terms of technical levels, though, i'm still paying attention to this region. Between 12 20 12 25 we've caught ourselves there three times before it was previous resistance. Clearly, it's now acting as support, i'm looking for that to hold and from there i'm looking for this third test of 1450 from march 18th, all the way up until may 18th.

We are in a gigantic cup and handle pattern. Here's the giant cup we're looking to form this handle. If you crack open any technical analysis book, it will classify this pattern as a bullish pattern. Of course, there's a counter example to every pattern, but statistically just in terms of the odds, the deck is stacked in our favor right now, and i also want to point out that right here, uh this little run up.

We have the break above 1225 to 1450. Back down to 12 looks very very similar to what we saw in mid-march and from a charting perspective. It is similar, but i want to bring up a couple things that are different. What we had in mid-march compared to now is, at this point, there's a lot more fud and concern about a dilution of 500 million shares.

On top of that, we also knew that there was legitimately concerned about the at the market offering and there wanda owned. Many more shares that we knew they were trying to get out of on amc fast forward to now we definitively know the 500 million share dilution. It's not a thing, we're not even voting on it. The at the market offering of the 43 million dollars completely done.

So we don't have that holding us back and we also don't have wanda holding us back at all right there. We know at some point in here they got rid of 30 million shares and i get it. That's a reasonable headline of wanda sells. 30 million shares.

You know what else is a reasonable headline in aggregate amc, investors buy 30 million shares, so we don't have to worry about the massive share dilution fund. We're already done with the at the market. Offering and wanda is no longer a player. Well, actually, that's not even fair, they still do own 10 000 shares, and i was thinking about that.

Why? Wouldn't they just sell it, and it tells me that, for whatever reason they still want some skin in the game, and that tells me that someone out there that's controlling wanda's investment, they don't want to be completely zero. They want a position in case this thing. Still rips and obviously, if they're keeping their investment, they think that there's some sort of reasonable statistical likelihood that they're still involved that's why they still own 10 000 shares because they don't want to miss the rocket ship. So, once again, from a charting perspective, i get that this situation looks very very similar to what we saw in mid-march, but in reality it's actually way way better for us apes.

Don't forget that and beyond the technicals and the data there's one more thing. I want to comment on that. I'm seeing in this community whenever there's big movements, uh there's a lot more fun. So, first of all, remember i'm not a financial advisor, i'm not a fortune, teller, no matter what you hear from whatever source check it do your own.

Due diligence, because at the end of the day, it is your money on the line and don't forget that when we see these big movements in the stocks price, it almost like clockwork, there's more articles and more fun out there and i'm seeing like uh. I. I guess the best way. To sum it up is like aggression, but remember at the end of the day, the media could use that against us when they go low.

We go high, do not give the media or anyone else on any form of social media. Any firepower against us, i get it sometimes that there are clearly bad actors. One of the best things to do is to, i guess, prove how they're wrong with data and facts, but the attacking thing i just don't - want that to really hurt our community. So that's just my two cents on that.

I just don't think we want to give anyone any leverage against us, but once again that's my own opinion. I would love to get your thoughts on both amc and gamestop in a comment below. If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join up with the moon game by hitting the subscribe button until i catch you next time for me and share best of luck in the markets, you.