To The Moon

Short term traders, time to relook into meme stocks for very short term trade! This is mainly due to market starts stable down a bit and might remain sideway after last week Jackson Hole conference. Therefore, I think there might be some opportunity to make quick profit on these stocks, but bear in mind that the risk is very very high. 

AMC

After experienced one of its worst weeks, $AMC Entertainment(AMC)$ might find its short term bottom pretty soon. The drop last week was about 50% after the split actions which sent the stocks down to ocean. Nothing fundamental to see for this stock, it's a very bad one. However, technical wise, this stock is simply oversold, with RSI value at 23. Anything below 30 is generally oversold. But bear in mind that some stock even go until 10 and below. 

RSI 23 only for AMC

Coin

This might not exactly be the meme stocks but it's crypto related and is usually related to the meme theme. The share price seems to be quite bearish with consecutive drops over since mid August. However, I am still $Coinbase Global, Inc.(COIN)$ in short term for this stock because the current share price is testing the ema200 trendline which is a very strong support. We should expect a rebound here in these few days. However, today the price seems cannot support well there, let's see how it goes this week. 

COIN daily chart

FFIE

Obvious breakdown signal for the first day. New historical low. Very bearish signal with huge volume, really not a good sign for the stock movement in short term. Therefore, I am bearish for $Faraday Future Intelligent Electric Inc.(FFIE)$ Bearish. The main reason of this drop is due to the announcement of the 1 for 80 reverse share split by the company. This is not a good sign as the reverse share split action may hinder the company's ability to raise financing and may result in bankruptcy. Bye bye! 

FFIE daily chart

OXY

Occidental Petroleum, an oil and gas producer recently released its quarter earnings results. Despite a decrease in revenue as compared to the same quarter last year, OXY showcased a significant returns on equity and a healthy net margin. Therefore I am $Occidental(OXY)$  as I think oil price will continue to go higher towards 100 USD. In addition, the recent acquisitions made by OXY corporate insiders around 4mils over shares demonstrate a continued confidence and investment in the company long term prodpects.

Grab

Wrong prediction for $Grab Holdings(GRAB)$  last week. I am very pessimistic with their earnings but it seemed to be a good one, which push the share price higher last week. With the strong prospects and earning results, I believe Grab will slowly regain its uptrend momentum. It might be slow but we got the reasons to move higher now! How do you think? Technical wise, we can see the EMA lines are facing upwards too. Hehe! 

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