Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

Day 3 of the GME and AMC Meme Stock Rally

Meme stocks turned red during pre-market hours. There are different narratives for GME and AMC.

AMC Has Diluted Investors

AMC issued 23.3 million shares of common stock, diluting investors. Some view this as a positive because AMC has paid down high-interest debt. Others view this as a slap in the face for those who are pumping the AMC stock.

AMC Has Support at $6.04

AMC has a key support level at $6.04. The price is currently trading below $6.04, and this could potentially turn into a wick back up. $6.04 is a key price level for AMC bulls to defend today. Thursday is the most bullish day of the week so I want to see if AMC is trending bullish by tomorrow. This seems like a nice dip for those who haven’t bought yet.

GME Drops After RoaringKitty’s Cryptic Post

Today’s narrative is that GME has dropped after Roaring Kitty posted a tweet about a grim reaper knocking on a door that says GameStop. I don’t buy into this, I think these are normal swings for the meme stocks. I feel like these are both good buy opportunities for those who want to gamble on AMC and GME.

GME Retests $36.53 As Support

GME has reached an important support level at $36.53. GME bulls need to defend this price level, and I have $49.40 and $64.74 as key resistance targets on the way up.

ChartChamp socials: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

IWM Rejection in the Red Zone

I have been patiently waiting for IWM to form a bullish breakout from the red zone. However, there has been another rejection. Yesterday IWM failed to stay above $205.31 and has dropped below the red zone again. I think there will be more attempts to break through the red zone, but I would give IWM […]

Read More
Default Thumbnail

S&P and NASDAQ Likely to Rebound Today

Yesterday there was optimism about a bullish rally after NVDA reported strong earnings on Wednesday. However, the entire stock market was red except for NVDA. SPY and QQQ were trading near key resistance levels, and both experienced strong selloffs. QQQ started the day above the red trendline, and closed the day back below resistance. After […]

Read More
Default Thumbnail

IWM Facing Resistance in the Red Zone

I’ve been patiently waiting for IWM to form a bullish breakout. IWM needs to break above the $210.44 resistance level, but continues to selloff in the red zone. There was a rejection that has pulled IWM back down to the lower end of the red zone at $205.31. I would monitor $205.31 for short-term support […]

Read More