If you follow the prediction on meme stocks last week, it was a big win for FFIE, with about 40% gain in 3 days. However, the engine had not yet engaged for AMC.
Let's monitor and look in details on their current trend now.
AMC
AMC rose 2.70% to $8.36 last Friday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ falling 1.56% and Dow Jones dropping 0.83%.
As discussed last week, AMC was expected to rebound based on RSI indicator which showed that the stock was at an oversold zone RSI < 30. However, the stock was yet to have significant rebound last week.
AMC Daily Chart with RSI
If we look at its hourly chart, it shows that a higher low pattern was formed. If the candle is able to breakout somewhere near 9, then the rocket is ignited! Vroom....
AMC hourly chart
For the reasons above, I continue to be bullish for $AMC Entertainment(AMC)$
FFIE
Big winner last week. We will use the same analysing method with AMC. Let's look at the daily chart first. Basically, no much near term indication from daily chart. We need to wait it break beyond 12 USD to have a strong momentum.
FFIE daily chart
How about its hourly chart? We notice something interest here. The bottom starts to form where ema10 start to cross above ema25, followed by higher low pattern. In addition, the blue line resistance turns to be a support now. Technically good.
FFIE hourly chart
Therefore, I continue to vote bullish for $Faraday Future Intelligent Electric Inc.(FFIE)$
In short
Last but not least, meme stocks can be traded for fun but not suitable for invest with large funds as the risk is too big and risky. Therefore, do manage your risk well before you plan to "bet" your money on these stocks. And usually you need to be technically competent to play such stocks. And mentally strong too!
To the moon!
@TigerStars @MillionaireTiger @CaptainTiger @Tiger_comments @Tiger_SG @Daily_Discussion
Comments
Rise up to $5-6, to match AMC. I also think the numbers will be higher as the numbers for avatar keep rising and boosting sentiment over movie theaters coming back.
Virtu being investigated is the first domino. The evidence will make it clear that not only did they not hide retail investor information, they used it to front run trades with their hedge fund.
Id like to hear a valid explanation how a stock held by 90+ percent retail where the OBV charts show have largely not sold steadily goes down constantly. It doesnt really make sense.
Anytime AMC is up after hours/pre-market is suppressed drastically before the opening bell. It's disappointing but I've been in 2 and a half years and last month when it dropped to these prices I double my position.... MOON OR ZERO I'M IN
I didn't think I'd get into AMC again for the 4th or 5th time. I made money I think 3 times before and lost once.
Imagine if Tesla rose 12% every time one of their cars sold!