High Risk 🔥 🔥 🔥 Memes - Technical Charts Review
Last week was generally not a too bad week for investors. All three major U.S. indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts. Let's look into our weekly meme stocks review, specially for AMC and FFIE.
AMC
AMC Entertainment stock was in the red last week after the movie theater chain reported its first-quarter earnings. It beats on both revenue and adjusted EPS for the first quarter. However, AMC stock is sinking lower due to a weak attendance figure. Its overall attendance fell by 2.1% while U.S. attendance dropped by 5.8%.
AMC daily chart
For AMC, the stock is challenging the higher low support formed 2 weeks ago. We should expect a rebound at current support area at around 2.90 USD. The share might continue to consolidate between 2.90 till 4 USD for incoming months. However, I am technically and short term $AMC Entertainment(AMC)$
FFIE
Last week, Faraday Future announced that it has wrapped up all required compliance testing prior to launching delivery of its FF 91 2.0 Futurist Alliance. This is its first product, a sleek luxury EV with a high base sticker price of $309,000.
The company said it would begin the actual delivery of the vehicles to customers who preordered them in the very near future, specifically the second week of this month. What a great news!
FFIE daily chart
FFIE finally manage to form a short term bottom at current price, at least for the past 2 weeks. I believe with all the good news mentioned above, $Faraday Future Intelligent Electric Inc.(FFIE)$
RIVIAN
Rivian Automotive stock was sliding after the company reported earnings early last week. Rivian fell short of Wall Street's earnings expectations to start the year as the automaker pursues a costly effort to revamp its manufacturing operations and boost output of electric vehicles. The company burned through cash and posted an adjusted loss of $1.24 a share for the first quarter.
Rivian daily chart
For Rivian, the share price begins to pullback and challenge the nearest support at 10 USD. The stock failed to breakout over the EMA50 trendline. However, the possible thing is that a gold cross is formed recently between EMA10 and EMA25. Technically, Rivian will probably rebound $Rivian Automotive, Inc.(RIVN)$
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AMC Entertainment (AMC)
Business Overview: AMC Entertainment is a movie theater chain that operates in the United States and internationally. The company is involved in the theatrical exhibition business and generates revenue from ticket sales, concessions, and other theater-related activities. The movie theater industry is expected to recover as COVID-19 restrictions ease and people return to theaters.
Earnings Analysis: AMC reported its first-quarter earnings, beating revenue and adjusted EPS expectations. However, the stock price declined due to weak attendance figures. Overall attendance fell by 2.1%, while U.S. attendance dropped by 5.8%. The company's financials for Q1 2024 showed negative EPS and a net profit margin of -17.19%.
Capital Flow Analysis: The capital flow data for AMC shows mixed trends. In the past five days, there have been both inflows and outflows of capital. On a daily basis, there have been both inflows and outflows, indicating volatility in investor sentiment.
Trend Analysis: The stock is currently challenging the higher low support formed two weeks ago. The support area is around $2.90, and a rebound is expected at this level. The stock may continue to consolidate between $2.90 and $4 in the coming months. The current stock price is $2.91.
Valuation Analysis: Analysts have provided target price estimates for AMC. The mean target price is $4.42, with a low estimate of $3.10 and a high estimate of $8.00. The analyst recommendation for AMC is 4 hold, 2 underperform, and 1 sell.
Rivian Automotive, Inc. (RIVN)
Business Overview: Rivian Automotive is an electric vehicle manufacturer. The company focuses on producing electric pickup trucks and SUVs. The electric vehicle industry is expected to grow rapidly in the coming years as demand for sustainable transportation increases.
Earnings Analysis: Rivian reported earnings that fell short of Wall Street's expectations. The company posted an adjusted loss of $1.24 per share for the first quarter. Rivian is investing heavily in revamping its manufacturing operations and increasing the production of electric vehicles. The financials for Q1 2024 showed negative EPS and a net profit margin of -120.10%.
Capital Flow Analysis: The capital flow data for Rivian shows mixed trends. In the past five days, there have been both inflows and outflows of capital. On a daily basis, there have been both inflows and outflows, indicating volatility in investor sentiment.
Trend Analysis: The stock price is currently challenging the nearest support at $10. The stock failed to break out over the EMA50 trendline. However, a gold cross has recently formed between the EMA10 and EMA25, indicating a potential rebound. The current stock price is $9.99.
Valuation Analysis: Analysts have provided target price estimates for Rivian. The mean target price is $15.76, with a low estimate of $10.00 and a high estimate of $36.00. The analyst recommendation for Rivian is 6 recommend, 9 buy, 11 hold, and 2 underperform.
Faraday Future Intelligent Electric Inc. (FFIE)
Business Overview: Faraday Future is an electric vehicle manufacturer. The company focuses on producing electric vehicles with advanced technology and features. The electric vehicle industry is expected to grow rapidly in the coming years as demand for sustainable transportation increases.
Earnings Analysis: Faraday Future has negative earnings forecasts for the future. The financials for Q3 2023 showed negative EPS and a net profit margin of null. The company's financial situation is poor, which aligns with the oversold stock price.
Capital Flow Analysis: The capital flow data for Faraday Future shows mixed trends. In the past five days, there have been both inflows and outflows of capital. On a daily basis, there have been both inflows and outflows, indicating volatility in investor sentiment.
Trend Analysis: The stock price is currently challenging the support at $0.038. The stock has a high profiteer ratio, indicating potential opportunities for profit. The current stock price is $0.0461.
Valuation Analysis: There is no analyst target price available for Faraday Future. The analyst recommendation for Faraday Future is 1 hold.
Please note that the above analysis is based on available data and should not be considered as investment advice. It is important to conduct thorough research and analysis before making investment decisions.