To The Moon

How many of you have been killed by meme stocks? Or your investment funds being stolen by meme stocks. Of course there are some investors who gain jackpot from these meme stocks too, high probability back in 2020 and 2021 but with very low winning rates over these two years.

Roller coaster

Let's look at the so-called roller coaster memes. The first one will be $AMC Entertainment(AMC)$ Bullish. 

AMC daily chart

Pretty nice consolidation of the share price between the two blue lines that I draw. We need to monitor closely and see whether the stock can break over 8.61 resistance. It tried yesterday but to no avail due to a heavy selling pressure. Anyway, I think the share price should retry this resistance again tonight. 

Secondly, it will be $Faraday Future Intelligent Electric Inc.(FFIE)$ $Rivian Automotive, Inc.(RIVN)$ Bearish. Both of these EV makers suffer a lot recently, mainly in the financial, and also the market share as well as the competition from its peers. 

FFIE daily chart

RIVN daily chart

Rivian share tumbled after the convertible bond offering news. It is the second time in less than a year that Rivian is issuing such a green bond, which raises capital from investors seeking to back climate-focused projects. The company had issued a $1.3 billion convertible green bond in March to support the launch of its smaller R2 vehicle family. 

Next, let's into $Sea Ltd(SE)$ Bullish. The company may have additional growth avenues given Indonesia's recent ban on goods transactions via social media platforms which will increase barriers to market entry for e-commerce. Technical wise, the stock just forms a higher low which might a trend reversal signal, let's further monitor. 

SE daily chart. 

Commodity

Last but not least, i am short term bearish for $Occidental(OXY)$ following the correction of crude oil price recently. Similar to S&P 500 Energy Sector closed 3.4% lower in previous session after oil settled down more than $5 on Wednesday as a bleaker macroeconomic outlook and fuel demand destruction came into focus. Therefore I believe energy stocks will continue to face correction for incoming weeks.

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