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Meme stocks like Gamestop and AMC are back in the headlines, but is it a reason to be worried about this market rally? Source: Getty Images Shares Internet meme Meme stock Stock Market trend AMC Theatres Written by: Chris Beauchamp | Chief Market Analyst, London Publication date: Thursday 16 May 2024 01:42 What’s driving the move in meme stocks? Meme stocks like GameStop and AMC are soaring again, delighting retail investors but frustrating critics. GameStop shares have surged 340% over the last 10 trading days after posts from Keith Gill, the central figure of the 2021 meme stock frenzy. Other heavily shorted companies like AMC, Koss, and Tupperware have also rallied. While still below their 2021 peaks, the recent gains have inflicted heavy losses on short sellers betting against these stocks. Short interest in GameStop hit a 20-month high before the rally. However, there is little evidence yet of a major short squeeze driving the surge. Options trading has spiked, especially in bullish call options on GameStop and AMC. Retail trading activity has picked up notably but remains below 2021 "meme mania" levels. The moves highlight the continued force of the social media-driven retail trading phenomenon, allowing quick profits for some but concerning critics who view the valuations as disconnected from fundamentals. What does it mean for the broader market? Many investors will see the return of the meme stocks as a sign that this stock market is becoming frothy, driven by high expectations that are doomed to be disappointed. While meme stock volatility was previously seen as a warning sign of broader market risk-off sentiment, the recent surges in 2024 appear to signal a healthy appetite for risky investments. A key difference is that the current meme stock swings are being driven more by fundamental factors like earnings, rather than just social media frenzies as in the past. Looking at seven well-known "meme stocks" - GameStop, AMC, Carvana, Beyond Meat, Kodak, Palantir, and Coinbase - their clustered volatility spikes have at times preceded downturns in the S&P 500, such as during the 2022 bear market. However, since the October 2023 lows, the meme stock volatility does not seem to be a leading indicator for the broader market. Instead, it likely reflects a risk-on bull market environment where the rising tide is lifting meme stocks as well. Rather than being a contrary signal, the recent meme stock rallies appear to be an expression of investors' appetite for riskier plays in the current bull market upswing. This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. -
By tradinglounge · Posted
NVDA Elliott Wave Analysis Trading Lounge Daily Chart, Nvidia Corp., (NVDA) Daily Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute {v}. DIRECTION: Upside in wave (iii). DETAILS: Equality of {v} vs. {i} stands at 972$, looking for resistance on top of TL1 at 1000$. NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart, Nvidia Corp., (NVDA) 4Hr Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave v of (iii). DIRECTION: Upside in wave v. DETAILS: We are close to equality of (iii) vs. (i), 1.618 (iii) vs. (i) stands at 1050$. Dive into our latest Elliott Wave analysis for NVIDIA (NVDA) Discover key price targets and potential resistance levels in our detailed NVDA stock forecast. Explore how wave patterns suggest significant movements ahead. * NVDA Elliott Wave Technical Analysis – Daily Chart* According to the latest daily chart insights, NVIDIA is currently in Minute wave {v} of a larger wave (iii). This suggests a continuation of the upward momentum in the stock's price. Notably, the equality of wave {v} with wave {i} is projected at $972, indicating where the next significant resistance could form. Additionally, traders should be vigilant as we approach the $1000 mark, coinciding with resistance at Trading Level 1 (TL1). * NVDA Elliott Wave Technical Analysis – 4Hr Chart* The 4-hour chart refines our understanding, showing NVIDIA in the fifth wave of wave (iii). This segment of the analysis reveals a more immediate bullish. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
CAC 40 (France) Elliott Wave Analysis Trading Lounge Day Chart, CAC 40 (France) Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:black wave 5 POSITION: red wave 1 DIRECTION NEXT LOWER DEGREES: red wave 2 DETAILS:black wave 4 looking completed at 7905.49 .Now black wave 5 of 1 is in play . Wave Cancel invalid level: 6774.45 CAC 40 (France) Elliott Wave Analysis Trading Lounge Day Chart Function: The analysis identifies the current movement of the CAC 40 on the daily chart as part of a "Trend." This suggests that the waves being analyzed are in line with the prevailing market direction. Mode: The mode of the current market activity is "impulsive." In Elliott Wave theory, impulsive waves move in the direction of the trend and typically consist of five sub-waves (1, 2, 3, 4, and 5). These waves indicate strong market momentum in the trend's direction. Structure: The structure under examination is "black wave 5." This wave is part of the larger trend and is typically the final wave in the five-wave impulsive sequence, indicating the culmination of the trend's current phase. Position: The market is currently in "red wave 1," which is the first sub-wave of the larger black wave 5. This wave marks the beginning of a new impulsive sequence within the broader trend. Direction for Next Lower Degrees: The next anticipated movement is "red wave 2." In Elliott Wave terms, red wave 2 is expected to be a corrective wave that temporarily moves against the direction of red wave 1 before the trend resumes with red wave 3. Details: Wave Completion: The analysis notes that "black wave 4" appears to be completed at the level of 7905.49. The completion of black wave 4 sets the stage for the final black wave 5. Current Wave in Play: The market is currently experiencing "black wave 5 of 1." This indicates that the first sub-wave (red wave 1) of the final black wave 5 is now active. Invalidation Level: The wave cancellation or invalidation level is set at 6774.45. If the market drops below this level, the current wave count will be invalidated, suggesting a possible reevaluation of the wave structure. Summary The CAC 40 Elliott Wave analysis on the daily chart indicates the index is in the final stages of a significant trend phase, specifically within black wave 5. The market has completed black wave 4 at 7905.49 and is now in the initial stages of black wave 5, marked by the formation of red wave 1. Following red wave 1, a corrective red wave 2 is expected to play out. The analysis sets an invalidation level at 6774.45, where falling below this level would negate the current wave count and imply a potential shift in the market dynamics. This detailed wave structure provides traders with insights into the trend's continuation and critical reversal points to monitor. CAC 40 (France) Elliott Wave Analysis Trading Lounge Weekly Chart, CAC 40 (France) Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE: red wave POSITION: blue wave 3 DIRECTION NEXT LOWER DEGREES: red wave 2 DETAILS:red wave 1 is in play and looking near to end . Wave Cancel invalid level: 6774.45 CAC 40 (France) Elliott Wave Analysis Trading Lounge Weekly Chart Function: The analysis identifies the current movement of the CAC 40 on the weekly chart as part of a "Trend." This indicates that the waves being analyzed are moving in the direction of the prevailing market trend. Mode: The mode of the current market activity is "impulsive." In Elliott Wave theory, impulsive waves are strong movements in the direction of the trend and typically consist of five sub-waves (1, 2, 3, 4, and 5). These waves signal robust market momentum aligned with the trend's direction. Structure: The structure under examination is "red wave 1." This wave is the initial wave in the impulsive sequence, setting the foundation for the larger trend movement. Position: The market is currently in "blue wave 3." This implies that within the broader impulsive structure, the market is experiencing the third wave of the blue degree, which is typically the strongest and most extended wave in the Elliott Wave sequence. Direction for Next Lower Degrees: The next anticipated movement is "red wave 2." In Elliott Wave terms, red wave 2 is expected to be a corrective wave that temporarily moves against the direction of red wave 1 before the trend resumes with red wave 3. Details: Wave Completion:The analysis notes that "red wave 1" is currently in play and appears to be nearing its end. This completion is crucial as it signals the transition to red wave 2, a corrective phase. nvalidation Level: The wave cancellation or invalidation level is set at 6774.45. If the market falls below this level, the current wave count will be invalidated, suggesting a need to reassess the wave structure and potentially indicating a shift in market dynamics. Summary The CAC 40 Elliott Wave analysis on the weekly chart indicates that the index is currently experiencing an impulsive trend, specifically within red wave 1. This wave is part of a larger impulsive structure, positioned within blue wave 3, which typically represents strong market momentum. As red wave 1 nears its completion, the market is expected to transition into red wave 2, a corrective phase that temporarily moves against the trend. The analysis sets an invalidation level at 6774.45, where a drop below this level would negate the current wave count and imply a potential reevaluation of the market dynamics. This detailed wave structure provides traders with valuable insights into the trend's continuation and critical points for potential reversals. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Ranjit
What is the correct method for installing two MT4 SB accounts onto the same PC in order that they can run at the same time?
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