To The Moon

Investing in meme stocks can be highly speculative and volatile. These stocks often gain popularity through social media and internet forums rather than strong fundamentals. While some investors have seen significant short-term gains, others have faced substantial losses. It's crucial to approach such investments with caution, do thorough research, and consider your risk tolerance. Let's look at several meme stocks today:

AMC

The outlook for AMC Entertainment is poor as it is hurt by the structurally weak movie theater sector and slowing U.S. economy. Even the release of more popular films won't allow it to generate nearly enough profit to afford its upcoming debt payments.

AMC daily chart

If we look at AMC chart from technical aspect, AMC seems to have a strong support at EMA50 (blue coloured EMA line). As shown in the highlighted circles, for the past 2 months, the share price has rebounded well once it touched the EMA50 line, for at least 3-4 times. This week, AMC showed the similar pattern (somewhere very close to the EMA50 blue coloured line) and I believe this will cause AMC $AMC Entertainment(AMC)$ to surge again in near term.

FFIE

Faraday Future shares tumbled after the electric vehicle startup announced a reverse stock split. In a statement released Thursday, the company said that the 1-for-40 reverse stock split is expected to become on Aug 16. FFIE common stock is expected to begin trading on a split-adjusted basis upon market open Aug 19.

FFIE daily chart

Technically, it is clear that another crash is on going for FFIE. If you recall, you can see how Faraday Future rallied every time and plummeted directly a few days after that, within a short period of time. I cannot see any sign of rebound for the stock right now. With all the bearish technical indications such as dead cross and all EMA lines curve downwards, I believe FFIE  $Faraday Future Intelligent Electric Inc.(FFIE)$ will continue to go lower and lower in near term. The reverse split next week will send the stock even lower!

COIN

Coinbase has announced plans to launch cbBTC, a wrapped version of Bitcoin, on its Base network. Although the details are not yet disclosed, this move aims to expand Coinbase's tokenized asset offerings and potentially reshape the landscape of wrapped Bitcoin. As demand for tokenized Bitcoin on Ethereum-compatible chains grows, Coinbase's entry into this space could significantly impact market dynamics.

COIN daily chart

For COIN, the stock retraced following the bearish market sentiment in crypto sector this week. Moreover, the share price failed to sustain above EMA50 trendline support. We can also see a dead cross ❌ formation between EMA 25 and EMA 50 this week. But then for short term, it seems like COIN successfully stands back above its EMA200 support (Green line) which is a good sign of reaching a short term bottom. For such, I give Coinbase $Coinbase Global, Inc.(COIN)$  a bullish vote next week, as long as the share price stays above EMA200.

Rivian

Rivian Automotive has been pulling back over the past month. The electric van and truck maker's latest quarterly earnings release has done little to drive a positive sentiment shift for Rivian stock. As seen from Rivian's results and guidance, the auto sector's current slump is likely to continue impacting this early-stage EV company's growth and margins in the quarters ahead.

Rivian daily chart

For Rivian, the share price retraced together with the bearish market and it seemed to struggle to stay above EMA 200 support this week. This week was a critical week for Rivian where its share price must stand back above to EMA200 but it fails to do so, therefore we will see a continuous correction in Rivian price. Continue to be a bearish vote $Rivian Automotive, Inc.(RIVN)$ unless it manages to stand back above its EMA200 line.

SE

A 40% jump in sales for Singapore's Shopee helped its parent Sea Limited post strong earnings. CEO Forrest Li said Shopee will become adjusted EBITDA-positive starting in the third quarter. Sea's gaming and financial services businesses also saw double-digit growth.

SE daily chart

By referring to the chart above, two week ago, Sea plummeted below it's EMA200 which acted as a very strong support and the share price immediately rebounded from there. The movement was so bullish until the share price directly broke the recent new high at 76.60 USD, without any sign of pullback yet. For such, I believe Sea $Sea Ltd(SE)$  will continue to trend higher next week.

Do you like meme stocks? Which meme stocks have you invested in before? Do you make huge profits or losses? Will you choose to buy the pull backed AI stocks or still meme stocks? 

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