High risk stocks 💣💥🤯 to take note

Meme stock mania is back. This time around, it's looking a little different.

Meme stocks saw a resurgence last month after Keith Gill, an investor who helped stoke the meme stock frenzy in 2021, made his first post on X in three years. Also known as“Roaring Kitty,”Gill has since posted screenshots on Reddit that appear to show GameStop shares and call options worth hundreds of millions of dollars in his portfolio, stoking excitement among his devout followers. Let's look at a few high risk meme stocks in the market today.

AMC

AMC Theatres, the world's largest movie theater chain, is offering multiple ways for moviegoers to save money this summer, making it easier and more affordable to enjoy the magic of movies.

These deals help make the magic of movies at AMC even more affordable and accessible for moviegoers throughout the United States.

AMC daily chart

However, if we look purely on AMC from technical aspect, it seems like the stock is ready for another wave of rally. For this week, each trading day ends with the candle at the higher position, moving up like a staircase. Also, with all the EMA lines facing upwards, I believe AMC $AMC Entertainment(AMC)$ will continue to trend higher next week. Besides, I believe the movement of GME will have a large impact on AMC too due to their meme nature. 

FFIE

Premium electric vehicle manufacturer Faraday Future which sells electric-powered SUVs at prices rivaling homes in certain under-the-radar markets saw its shares dip despite recent positive news. Faraday will start resuming deliveries after a four-month hiatus. However, the end result only articulates the severe challenges ahead for FFIE stock.

FFIE daily chart

Hard prediction for FFIE trend over the past 2 weeks due to its meme nature and high volatility. The share price seems to be resisted by its downtrend resistance trendline as drawn in Orange in the figure above. Moreover, with its relatively weak share price despite its good news in EV delivery, I believe $Faraday Future Intelligent Electric Inc.(FFIE)$ will continue to stay bearish in near term. More and more investors are quitting this stock. 

COIN

Coinbase, a publicly traded U.S.-based cryptocurrency exchange, known for its development of Base, a layer-2 solution for Ethereum, has introduced a new metric to provide a more accurate measure of blockchain network adoption. This new metric aims to mitigate distortions caused by airdrop-related activities and Sybil attacks.

COIN daily chart

Not too bad and slightly bullish month for crypto since June! For COIN, the chart already formed several higher lows after broke out from the orange coloured downtrend resistance line. I believe $Coinbase Global, Inc.(COIN)$  will continue to be bullish next week, with the recovery of cryptocurrency market and the stock will be able to challenge the recent high pretty soon. My near term target price for COIN will be 300 USD. The rally seems to lock start much slower than my expectation.

Rivian

Rivian Automotive is benefiting from positive analyst chatter and rumors about potential partnerships. Wall Street thinks the EV maker's advanced AI technology could create partnership opportunities and generate new revenue streams. Speculation about a hookup with Apple also fed the rumor mill but that's not a reason to buy Rivian stock.

Rivian daily chart

For Rivian, the share price shows sign of turning bullish for the past few days. After rebounded from its quadruple bottom support at 10 USD, the share price engaged into a short term rally. The week ended with some pullback but the overall uptrend still valid and remain pretty healthy! The market seems to slow down a bit after a massive rally for the past weeks. For such, I think $Rivian Automotive, Inc.(RIVN)$ will also pullback and retest the support at 10 USD next week. 

SE

Sea Limited, which performed well as both Shopee and its primary competitor, TikTok Shop, raised take-rates meaningfully across several countries during the quarter. This is a noteworthy development as we are now starting to see mounting evidence of more rational competitive behaviour from the dominant players in Southeast Asia's e-commerce market, which in turn, signals a more favourable industry structure lay ahead.

SE daily chart

Simply amazing year for SE share price in 2024! An obvious, non stop and bullish uptrend could be observed clearly in the chart above. The recent pullback was perfect, touching EMA25 trendline support and rebounded. For more than 2 weeks, the share price closed green daily. I remain my bullish view on $Sea Ltd(SE)$   and I strongly believe the breakout of recent high will just be a matter of time. We are very near now.

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.

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