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FYI on ASCM:
ASCM is the most popular market maker for shorting stocks. They can create a scare when they're in the ask, and they can be a resistance level.
ASCM often appears on very volitate stocks that made a nice move and ASCM looks to short for the price per share correction.
When ASCM appears on the bid side close to the price level it means they're covering their position. In order to cover they need to buy back the shares they shorted so it often provides an area of support.
This is where we need to buy shares and keep them from getting them.
Here's a link that explains market makers in more detail
https://www.coursehero.com/file/p4cd7t3/Level...ations-of/
Read More: https://investorshangout.com/post/view?id=516...z5NVCEo9OZ
ASCM is the most popular market maker for shorting stocks. They can create a scare when they're in the ask, and they can be a resistance level.
ASCM often appears on very volitate stocks that made a nice move and ASCM looks to short for the price per share correction.
When ASCM appears on the bid side close to the price level it means they're covering their position. In order to cover they need to buy back the shares they shorted so it often provides an area of support.
This is where we need to buy shares and keep them from getting them.
Here's a link that explains market makers in more detail
https://www.coursehero.com/file/p4cd7t3/Level...ations-of/
Read More: https://investorshangout.com/post/view?id=516...z5NVCEo9OZ
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