Memes are falling down, falling down 🎶🎶🎶

MEME stock prices are super volatile. If a stock is in the profit-taking stage, it might be overvalued, posing risks to new buyers.

Investing in MEME stocks can be an option, but it's essential to do so moderately and with a rational approach. Let's look into a few meme stocks today.

AMC

AMC has a long road ahead to stay on top. With investors and Wall Street keeping a heavy eye on their existing debts, many wonder if their stock will rebound. AMC does have a huge competitive advantage as the biggest player in the cinema realm. With the right strategy and innovative thinking, they can get their stock back up and offer a promising future. Let's see whether management is capable to make it happen!

AMC daily chart

As we can observe obviously above, AMC chart experienced a significant pullback after the meme rally 2 weeks ago. With all the red long and continuous candle, it seems like the selling pressure for AMC remains high. For such, I am $AMC Entertainment(AMC)$ for the company in short term. Its nearest short term support will be 3.52 USD.

FFIE

Shares of Faraday Future are suffering a severe drop on Wednesday after releasing its earnings. Management warned that the company may file for bankruptcy if it's unable to secure additional capital. Unfortunately, the pricing of Faraday's EVs has translated to a very limited market, as evidenced by the firm's disappointing sales. Therefore, FFIE stock will likely incur a delisting, barring some lifeline.

FFIE daily chart

Bad prediction last week for FFIE as I predict the share price to rebound strongly after its earnings as this might be the last chance for FFIE to prove itself before being delisted. However, its outlook disappoints investors again. The share price is under the downtrend pressure as represented in orange on the chart above. I assume the recent surge was the last running wave for investors. For incoming few weeks, it is high probably that $Faraday Future Intelligent Electric Inc.(FFIE)$  will continue to trend downwards, mainly due to the delisting pressure.

COIN

In the wake of a dynamic crypto market surge, Coinbase, a leading cryptocurrency exchange, has announced impressive Q1 results, reflecting strong growth and strategic advancements across various fronts.

COIN daily chart

For Coins, the stock broke out from its orange coloured downtrend line 7 trading days ago. Now, the share price pullbacked a bit to find a support before engaging into a rally towards 275 USD. With all the positive news in the crypto market recently, I believe $Coinbase Global, Inc.(COIN)$  will follow mainly Bitcoin and Ethereum trend. We should expect another round of rally in COIN soon.

Rivian

Rivian reported a worse-than-expected loss in the first-quarter late on May 7 as the company lost 38,784 USD per vehicle delivered. Meanwhile, speculation has run rampant that Apple is looking to partner with the EV startup.

Rivian daily chart

For Rivian, the share price is still under a consolidation phase since May 2024. 10 USD remains to be an ultra strong support for Rivian, as highlighted by the 4 blue arrows. In short term, Rivian will definitely continue to consolidate, but for mid term, as long as the share price stays above 10 USD, I am $Rivian Automotive, Inc.(RIVN)$  bullish for the share movement, with a mid term price target of 14.56 USD.

SE

Antitrust regulators in Indonesia are investigating whether Sea Limited unfairly favored its own delivery services for orders placed on its Shopee e-commerce platform. Shoppers in Indonesia can choose which company delivers their purchase and Indonesian officials say that Sea set up an algorithm that prioritized its own service over other options.

SE daily chart

What a strong chart from SE! The stock engaged into a great rally since Feb 2024. The overall trend looks pretty healthy with sufficient pullback after each rally. Now, the share price retraces to test the neckline and EMA50 trendline support, both around 63.32 USD. I believe next week will be a rebound week for $Sea Ltd(SE)$  as the double supports mentioned above will definitely attract some buyers and push the share price up towards 75 USD. Still quite some room for growth.

Do you like meme stocks? Which meme stocks have you invested in before? Do you make huge profits or losses? Kindly share your experience with the readers here ya.

*Game might change this week as the Roaring Kitty revealed his 116 million bet in GME! Gosh 

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