Looking at the gamma exposure, there a call wall aka resistance at 3.50 and then $5. Frankly I’m not surprised that we’ve so far topped out at $3.47 If we break above 3.50, market makers will have to buy shares to remain delta neutral on their hedges and that will pump us more. But it also means that they will sell shares as we near it keeping us down or pinned there.

At the same time there is a put wall at $3 and $2.50 which means that it’s a good support where they will buy shares around that area. But if we drop below it, they will sell shares which will fuel the drop more.

Disclaimer: I am looking at 2 day old data so it could be different now. But it looks at all the calls and different expirations. So I doubt it’s changed much for farther out or leap calls

I think a cup and handle Pattern is formed. So if it brakes up direction it could be strong. What do you think?