GME, MSTR and AMC Forecasts – Meme and Crypto Stocks Offering Opportunities?

GME Technical Analysis

GameStop looks like it’s going to drift a little bit lower based on pre-market trading, but it is worth noting that we have seen a surprise beat in the earnings call just about a week ago, as GameStop not only beat estimates, but there is a $2 billion buyback in the works, and some analysts now have a $39 target. Because of this, I look at this as a buy on the dip opportunity as long as we can stay above $20.

That gives you plenty of runway if they do, in fact, reach that $39 target down the road. This would not be an overnight move, but as you can see, for a couple of years now, $20, maybe $21, has been a pretty significant floor in this market. So with that being said, meme stock traders may be involved here soon.

MSTR Technical Analysis

As far as crypto goes, you’d be hard-pressed to find something that comes to mind quicker than Strategy, as Strategy has been a major player with Michael Saylor, of course, being the face of the company. They have had some serious issues as of late, as Bitcoin has struggled, but Strategy Incorporated does see some support in this general vicinity.

If we can recapture the $125 level, it might be good for a pop from here. If it starts to break down from here, maybe significantly below the $119 level, we probably reset near the $100 level. That being said, this is a market that needs to make some type of move to the upside soon, or it’s going to be in very serious trouble.

AMC Technical Analysis

AMC is pulling back a little bit, but it is worth noting that we’ve seen a drive higher here recently over the last couple of weeks, and it does look like we are going to continue to see upward pressure longer-term, possibly after it has completed a $150 million equity offering, and you can see that it looks like it was bought into. So with that being said, I think you’ve got a situation where the 200-day EMA right around $2 might be interesting. If we continue and break above the high of the day from Thursday, that’s also a signal that we’re going higher.

Where we go from here, you could, at least from a technical analysis standpoint, be looking at somewhere right around $2.75. For that matter, we could be looking at a much bigger move to $5.50 if you’re patient enough. Short-term dips are more likely than not will be bought into.

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