GME, AMC and BB Forecast – Meme Stocks Slightly Positive in Premarket Trading on Thursday

GME Technical Analysis

GameStop looks like it’s going to open a little bit positively on Thursday after getting hammered on Wednesday. We are in an area that could offer a little bit of support, at least in theory, right around the $31 level, but this is a very messy situation. We do have earnings coming up on Wednesday, the fourth of next week. We’ll have to wait and see how that plays out, but in the meantime, this massive move to the downside is wiping out some of the massive move from the three previous sessions. So, I think we’re going to see some volatility. And a lot of time, that can kick the GameStop stock into turbo gear to the upside. So, I’d be watching that, especially with the 50-day EMA underneath, offering potential support as well.

AMC Technical Analysis

AMC is basically flat at the open, maybe just a few cents higher as far as pre-market is concerned. And in this environment, it looks a lot like a market that is trying to find its footing as well. All things being equal, this is a market that I think will probably continue to be very noisy, but given enough time, I also think that we are stuck between the 50-day EMA and the 200-day EMA indicators, which typically means noise and chop. So, with that, I am looking to see if we can break above the 200 day EMA in AMC. And then I believe that the market could really start to take off.

BB Technical Analysis

Blackberry is slightly positive in pre-market trading, but it faces a huge block of trading near the $4.50 level that I think will be difficult to overcome. So, with that, I’d be very cautious. I’d recognize that this is a market that is trying to get back to the $4.50 level, but it’s going to need to see some type of push. Underneath, we have the 50-day EMA that offers quite a bit of support, and therefore, I think you need to look at it as a market that will continue to be very noisy, but I think it favors short-term pullbacks as being potential buying opportunities for those of you trading meme stocks.

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