Hi everyone. Meme mania continues - here’s another meme stock that I’ve charted: BlackBerry Limited (NYSE: BB) Let’s ignore the parabolic rise of BB in the 2000s that led to a spectacular blow-off top right as the 2008 Global Financial Crisis rolled around. Because… it has now retested a 25-year old support trendline (in green). We can also see that BB is trading in a descending channel back into the support trendline. This cumulated in a bullish divergence on RSI on the weekly chart (in purple). On the daily chart, it was trading in a lower highs and lower lows pattern. However, we saw a change in structure as BB broke out of this pattern before coming back to retest the support trendline. It has also been forming higher highs and higher lows since it bottomed at 2.46. It is imperative
Week In Review. According to legend, Robert the Bruce, King of Scotland, was supposed to have told his troops this shortly before walloping the English at Bannockburn in 1314 — "If at first you don't succeed try, try and try again". That was exactly what Dow Jones (or its mastermind) did on Fri, 17 May 2024; when it failed on Thursday. The Dow finally cracked the 4,000 level and stayed there until market closed. (see below) Market Weekly Summary. DJIA: +1.04% (+412.31 TO 40,003.59). First time in history achievement and it’s the Dow 5th straight weekly gain, with an intraday high of 40,051.05. S&P 500: +1.34% (+70.19 to 5,303.27). Index achieved its longest winning streak since February 2024. Nasdaq: +1.74% (+285.66 to 16,685.97). Tech index’s longest winning streak since February as
Hi everyone. Today I’ll finally be sharing my outlook on a meme stock: GameStop Corporation (NYSE: GME) Ever since making the initial run up to 120.75 from less than a dollar back in 2021, the stock has spent the past 3 years consolidating in a bull flag pattern, albeit with multiple false breakouts at the start and one false breakdown. We also formed an imbalance at 10 on 23rd Feb 2021. Controlled selling took place as we broke out of the bull flag and retested the descending support trendline. We also resolved the imbalance at 10, which cumulated in a sharp move higher to as far as 80 in RTH. However, my belief is that the move is not done. At the end of this week, we left behind an imbalance at 64.83 on high volume, as well as several other lower TF imbalances that will likely be resol
The resurgence of meme stocks is always a possibility, driven by retail investor enthusiasm and social media trends. Meme stocks like GameStop (GME), AMC Entertainment (AMC), and others have seen dramatic price movements due to coordinated buying sprees fueled by platforms like Reddit. Here are a few factors to consider: 1. **Market Sentiment**: Meme stocks thrive on the collective sentiment of retail investors. Monitoring social media platforms like Reddit's WallStreetBets can provide insights into trending stocks. 2. **Volatility**: Meme stocks are notoriously volatile, with prices subject to rapid increases and decreases. This volatility can present both opportunities and significant risks. 3. **Fundamentals vs. Hype**: While the hype can drive prices up, the long-term sustainability of
🌟🌟🌟$Faraday Future Intelligent Electric Inc.(FFIE)$ is in the news lately as one of the hottest meme stocks. Perhaps Roaring Kitty aka Keith Gill has a hand in this as he is back in action after a 3 year hiatus. Another meme stock $AMC Entertainment(AMC)$ has also gained recently with its shares up 25% this week. However as is typical of meme stocks today both Faraday and AMC fell, with Faraday losing 36% while AMC fell 5%. Short sellers are feeling the pain due to "Short Squeeze" a phenomenon where the sharp rise in the price of a stock forces traders who previously sold short to close out their position. The strong buying pr
Retail traders took over this week.Off-Exchange Volume hit 52% of all US equities traded yesterdayThis is the highest level on record, exceeding the prior retail peak of Jan ‘21 (~50%). $S&P 500(.SPX)$$SPDR S&P 500 ETF Trust(SPY)$$Invesco QQQ(QQQ)$$GameStop(GME)$$AMC Entertainment(AMC)$ ImageHedge funds got roasted in Meme Stock squeeze. We just witnessed a 4-Sigma day in HF VIP Longs vs Most Shorted Stocks (-5.9%).This is the 2nd worst day since the original Meme Stock Mania. Imagehttps://x.com/Marlin_Capital/status/1791511378093609419
$AMC Entertainment(AMC)$ and $Faraday Future Intelligent Electric Inc.(FFIE)$ enjoyed spectacular meme fanfare this week, as presumably short-squeeze by the meme community sent their stocks rallying to heights not seen in months despite lack of improvements in fundamentals that would justify the rally. The trading frenzy in the meme stocks that has been reignited appear to be unfazed in the near term, as shortists liquidate their short positions and stay away lest they get trapped by the bullish runs. As much as I believe that the recent run-ups are unjustified and driven by greed, given the deteriorating fundamentals of
Amazing week for meme stocks, notably GameStop (GME) and AMC Theatres (AMC) which have surged significantly at the beginning of the week, although their share prices are pulled back from peak towards the end of the week. This rally is attributed to a social media post by Roaring Kitty, the key figure in the 2021 meme stock frenzy. His renewed activity has sparked speculation of a comeback. For such, we can observe mostly all the memes speculated last week. My top picks of FFIE and AMC also skyrocketed to the moon. You may refer back to my last Saturday article and see how I catch this surge through technical analysis. Well, I cannot deny that it consists of a certain portion of good luck. AMC Despite extreme volatility and over 100% growth these days, AMC stock is far fro
GameStop and AMC plunge despite 'Roaring Kitty' return
Full story: https://grafa.com/news/gamestop-and-amc-plunge-despite--roaring-kitty--return-222544 GameStop (CRYPTO:GME) and AMC (CRYPTO:AMC) shares plummeted on Wednesday, with GameStop dropping 19% to $39.55 and AMC falling 20% to $5.48, as the 'meme stock rally' led by Keith Gill, also known as "Roaring Kitty," began to cool off. Despite Gill’s renewed social media activity sparking initial gains, market conditions such as higher interest rates and diminished consumer savings have dampened the rally. Gill, famed for the 2021 retail trading frenzy, reignited interest through a serie
Meme Stock Frenzy Likely to Carry Over Into Next Week
This current week has had significant mentions of a "meme stock frenzy" as retail investors trooped back into the markets en masse with a strong interest of a growing set of stocks that have largely been forgotten as the "AI surge" and the "Magnificent Seven" drew away market breadth. So strong has been retail investor participation that trading in certain stocks were briefly halted a number of times on zero-commission brokerages such as Robinhood to account for the heavy demand. The commonly attributed (and perhaps convenient) lynchpin for this phenomenon is the return of Keith Gill (who goes by "Roaring Kitty" on YouTube) to digital activity after a three-year break. In the last "meme stock frenzy" of 2021, Mr. Gill had emerged as a leading voice of the masses investing into c
$Novavax(NVAX)$safest short squeeze play on the market, Folks. Traders chasing GME $GameStop(GME)$ , AMC $AMC Entertainment(AMC)$ , KOSS $Koss(KOSS)$ are all gambling on paper dragons.This is a real Company, undervalued that’s about to get a boatload of revenue added to the balance sheet from Sanofi deal.-Extremely bullish- shorts are in deep trouble. just my opinion
$AMC Entertainment(AMC)$Get ready for the next big meme coin sensation! Just like GME $GameStop(GME)$ and AMC, NOICE is ready to take off and make a splash in the crypto world! Don't miss out on the next big crypto sensation! This is value stock, will pop to +$20 in a day
$AMC Entertainment(AMC)$I am not a fan of "meme stocks" because they're very much like penny stocks, prone to pump/dump schemes. How legal or illegal is this practice?, it is not us to decide, there are authorities who are supposed to regulate these behaviors.Using the volume bars feature, you can see "big fat" candles on the accumulation phase, the "rumor" phase where the "roaring kitty" name was heard in the news, the spike and immediately took the stock to a quick profit of +120% overnight, and the fade phase, where the only thing that remained at the end was the frozen smile of the hopeful bagholders with a fading volume.Be careful where you put your money, trading and investing requires knowledge of the company, its
$AMC Entertainment(AMC)$It’s NOT 2021 ! This time will be different, the jump will be much higher, damages to shorties will be 500% greater… the wound will be much deeper… just be patient. The party is not even start yet !!! The quarter is barely half over! We still have the last part of May, and June, which will be gangbusters! AMC will end Q2 with a small profit, similar to last year!
$AMC Entertainment(AMC)$Last chance to short before the significant drop near today’s close. Buy your $4 PUT options with end of May expiration. Will likely reach sub $4 today. The news is out; Jim Simon’s scammed everyone long. Only the short positions can win now.
AMC Entertainment Holdings, Inc., through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.