Stock Market

$REV Short Squeeze Recap 08/01/2022

$REV short squeeze on 08/01/2022. Here is an analysis of the stock price action.
Published: 08/01/2022 09:30 PM
Updated: 10/11/2023 06:12 PM
$REV 0801

Revlon (REV)

Mon, Aug 01 2022, 04:20:39 GMT

REV saw an enormous short squeeze today after being in a recent down trend. It had a strong momentum run to the upside a few weeks ago, that most likely gather a lot of short positions which ultimately probably got squeezed today. It made a monster move from basically 4.25 to 9.9 today with some clear squeeze levels at 5.00, 6.00, and 7.75. It closed strong above VWAP and is seeing decent action in the extended hours so it is likely to see more elevated trading tomorrow. Whether it continues it up trend and makes a retracement is dependent on how it holds in the extended hours and on the open tomorrow. Key break out level would most likely be the 9.40 level and the key break down level would be 7.75.