Meme in Technical View 📈📉

So far quite a good rally for the month of December 2023! Meme stocks are doing great as well, partially triggered by the good sentiment of the crypto market I believe. Today, let's look into a few meme stocks in the view of technical analysis.

FFIE

The famous meme EV maker! The stock price has been dropped over 90% this year, huge loss to most investors! If we look purely at the chart, a very bearish sentiment without doubt, keep breaking lower and lower. However, the only thing that catches my attention is last night rebound. This rebound is quite attractive and valid as it comes with a solid green candle and most importantly followed by a huge volume which is easily over 5 times than the past 6 months daily average volume. Some volume kick in and this might be the kick start of the rebound $Faraday Future Intelligent Electric Inc.(FFIE)$  .

FFIE

AMC

The brother of GME back in 2020 during the meme madness, AMC. Seem like the stock is struggling to stand back the lower blue line resistance for the past 2 weeks. A real bearish $AMC Entertainment(AMC)$  vote for the stocks as the share price is well below all EMA lines, pretty bad and weak. Nothing much to comment. It might have some dead cat rebound due to oversold but this will be purely a bet.

AMC

RBLX

Next, let's look at Roblox. A very $Roblox Corporation(RBLX)$  bullish stock movement, justified by formation of 3 higher low as drawn in the attached figure. The stock might consolidate for a while before continue to fly. The company recent earnings is improving and pushing the stock higher.

RBLX

COIN

Another highlight of the day, crypto related stock, COIN. The Bitcoin price has been rallied for over 100% since early November. By looking at the chart of $Coinbase Global, Inc.(COIN)$  , I believe the bullish sentiment will continue after pullback early this week. The candle of this Friday is breaking out the recent new high and will push the stock further. Gogogo!

COIN

SE

Nothing special for Sea Limited. The stock is still in a consolidation phase for over 6 months. It tends to breakout in the early October but to no avail. The stock was sent down back to the lower blue line after the poor earning results. This week, Sea reacts bullishly with a 6 consecutive winning streak, which let me to have a $Sea Ltd(SE)$  vote on it.

SE

Advice

Meme stocks are extremely volatile and high risk, please trade carefully.

How do you like this sharing? Please come and leave your comments below. Thanks! [Happy]  [Happy]  [Happy]  

@Daily_Discussion  @TigerClub  @TigerSG  @Tiger_comments  @TigerEvents  @TigerStars  @CaptainTiger  @MillionaireTiger