CNK: Too Good To Pass Up

Steve Strazza
July 26, 2024

I had no plans to put a new trade on today. 

In fact, with all the selling in big tech, i thought it would be a good day to leave the office a bit early, get outside, and let the dust settle. Come back next week fresh.

But, here I am writing… because this setup is just too good to miss.

We had an unusual options splash come across our scan just earlier in Cinemark Holdings $CNK.

We know the name well as we’ve been stalking this one for a Freshly Squeezed setup. 

Cinemark Holdings has a 25% short interest and 10x days to cover ratio. 

While the unusual options activity and high short interest are great, what is even more bullish is the fact CNK is in the process of completing a textbook bearish-to-bullish reversal.

Here’s what that looks like:

 

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