To The Moon

If investors are interested in investing in High Risk, High Return stocks, in addition to understanding the industry must understand the risks. Because of this type of stock, the important part is that if there is a mistake, it will lose. Therefore, you must have discipline to cut losses when you know you invest in the wrong way. Therefore, this type of stock is suitable for investors who closely monitor stocks and have strong technical trading background. 

AMC

Fans of the Olympics will have a new place to watch the action this summer: the movie theater. AMC Theatres will show live Olympics events in about 160 of its U.S. theaters. Here's how it will work. You buy a ticket just like you would to watch a movie, only you do it for an Olympics event. You can buy a ticket as an individual or with a group of friends. You can also reserve an entire theater for a watch party. Will this trigger AMC sales and revenue? 

AMC daily chart

If we look at AMC chart from technical aspect, since early June, the share price was resisted by the orange coloured downtrend line. But then towards the end of this week, the share price began to breakout from this downtrend line. At the same time, it rebounded at the EMA50 support. With this setup, AMC $AMC Entertainment(AMC)$  might be have a strong rebound next week. Do take note that the short term resistance will be at around 6 USD.

FFIE

Faraday unveiled its plan to regain compliance with Nasdaq's $1 minimum bid price requirement. The proposal is a reverse stock split in a ratio between 1-for-2 and 1-for-40. The ratio will likely be much higher than 1-for-2, as Faraday stated that it would seek a stock price of at least 5 USD following a reverse split.

FFIE daily chart

Technical wise, it seems like another crazy rally is going to happen again for FFIE. This week, the share price started with a huge surge with significant increase in volume. I believe something is brewing $Faraday Future Intelligent Electric Inc.(FFIE)$  and if you are a high risk taker, you might consider taking in some position, aiming to get a short term surge just like the wave in mid May, for a few thousands % of gain within one week. However, do take note on the importance to cut loss especially in such meme stock. High risk! 

COIN

Last Thursday, Coinbase filed lawsuits against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). According to a report from FoxBusiness, the lawsuits claim that both agencies failed to fulfill Freedom of Information Act (FOIA) requests submitted to the U.S. District Court for the District of Columbia.

COIN daily chart

Another boring week for crypto! For COIN, the chart above showed an alert sign of further retracement as the share price broke below EMA50 trendline support for over one week. With this setup, I believe Coinbase will continue to pull back towards its neckline support drawn in BLUE line, at around 194.36 USD. This is close to the EMA200 trendline support as well. Therefore, a bearish vote for $Coinbase Global, Inc.(COIN)$  in short term.

Rivian

Volkswagen will invest USD 5 billion to form a joint venture with electric vehicle maker Rivian Automotive, throwing a lifeline to the struggling startup and giving the German automaker access to the American EV company's technology. The pact provides Rivian with a much-needed source of fresh capital after the company struggled to ramp up production and deliveries of its electric pickup and SUV models.

Rivian daily chart

For Rivian, as I highlighted last week that its nearest support will be around 10 USD, and this is a super strong neckline support as Rivian rebounds at least 4 times in 2024 once the share price touches this support. I believe history will repeat and similar thing really happen again. Rivian shot up over 50% this week. Under the joint venture with Volkswagen, I believe Rivian  $Rivian Automotive, Inc.(RIVN)$  share price will continue to trend higher in near future.

SE

Sea's holdings include the e-commerce focused Shopee, which services Southeast Asia and Taiwan. The company also owns digital-payments provider SeaMoney and Garena, a global online games developer. Shopee is the largest business, contributing 9 billion out of Sea's 13.1 billion USD in 2023 sales.

Sea daily chart

Sea finally began to retrace after a continuous weeks of rally since early June. It is currently resisted by its short term downtrend line as drawn in ORANGE colour. If the stock is strong, it will start to have signs of rebound when it reaches the blue line which is EMA50. Otherwise, the next near term neckline support will be at 63.32 USD. I believe $Sea Ltd(SE)$  will remain bearish in short term.

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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