Anyone of you manage to make some profit from Meme stocks for the past few weeks? Or it's the meme which grab the money away form your pocket? πΈπ Well, let's look into a few meme stocks today from technical aspect. This is purely for study purpose as investing in meme stocks is not recommended due to excessive risk.
FFIE
The stock was performing badly since August, and I believe it should have reached its near term bottom. The consolidation phase over the past few weeks proved that. However, there's no any sign of rebound yet at this moment. With the RSi showing oversold and the probability of upside is much higher than downside in near term, I vote $Faraday Future Intelligent Electric Inc.(FFIE)$
AMC
Pretty nice breakout from the blue consolidation phase last week, but the pattern was a bit spoilt by the big red candle last Friday. However, I am still $AMC Entertainment(AMC)$
RBLX
Roblox, a fantastic performance of the stock price for the past three weeks. Current price is pretty near to the support at 29.33. Therefore, even if there's a retrace, the downside is limited for short term, thus I am $Roblox Corporation(RBLX)$
SE
Sea operates Southeast Asia largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Originating as a gaming business, Arena, Sea expanded into e-commerce in 2015. Technically, pretty nice reversal trend from SE recently. The stock price was rejected by the gap last Friday but it should continue to trend higher and fully close the gap with a potential gain of 20% from current price.
Therefore, I remain my bullish view on SE $Sea Ltd(SE)$
OXY
Last but not least, let's look at the oil counter, OXY! Oil stocks rebounded recently due to the the attack of Hamas militants on Israel. This conflict has raised fears of rising friction in the Middle East and the tension ignites engery stocks like OXY. If we look at the chart below, $Occidental(OXY)$
How do you think of these meme counters? Kindly share your insights with us guys @TigerStars @MillionaireTiger @Tiger_comments @Tiger_SG @TigerEvents @CaptainTiger
Comments
I am calling for a hold at current levels, but just like Warren, if OXY share price were to drop into the $50s, it would be time to add
I think Occidental Petroleum Corporation stock is a Hold above $60, but would add to our position in the middle $50s
OXY's rich Uncle Warren has increased his stake in the company, adding the luster of his storied name to the company