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Stocktwits Chart Art: May 13, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
May 13, 2024

STOCKTWITS CHART ART: MAY 13, 2024
The Stocktwits Summary 📝

If you woke up this morning thinking it felt like 2021 and not 2024, you were not alone. The meme stock mania is back, with GameStop, AMC, and other heavily-shorted stocks leading the charge. That’s got traders and investors looking in all sorts of places for the next potential squeeze. 🤑

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.01%)

Bullish (57)

Normal (47)

$QQQ (+0.23%)

Bullish (58)

Normal (45)

$IWM (+0.21%)

Bearish (41)

Normal (46)

$DIA (-0.18%)

Bearish (44)

Normal (52)

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
GameStop Gets The “Meme Stock” Movement Going 🎮

Keith Gill, aka “Roaring Kitty” or “Deep Fucking Value,” made his first social media post since 2021 and put meme stocks back on the map, with GameStop topping the list. 🤩

Stocktwits user @chessNwine was one of many traders pointing to today’s moves as the potential start of a much larger move ahead. He called GameStop’s monthly chart the “mother of all short squeezes” as shares break out from their multi-year “falling wedge” pattern.

Whether or not they’re right remains to be seen, but that hasn’t stopped traders from jumping into other heavily-shorted stocks in hopes of finding the next major squeeze ahead. 🤷

@chessNwine | Pro | Technicals | Equities/Options/Bonds

$GME Monthly. MOASS = "Mother of All Short Squeezes," or in this case, Mother of All Falling Wedges over 3+ years. Holding over $22 into likely volatile dips is going to be key for bulls.

BlackBerry Breaks Out As Traders Squeeze Shorts 📈

@ACInvestorBlog | Pro | Technicals | Equities

$BB primary downtrend line broken on heavy volume, lets break that 3.25 area to squeeze the shorts.

HFT Firm Perks Up Amid Meme Stock Saga 💸

@Wigglyick | Intermediate | Technicals | Equities

$VIRT Virtu Financial challenges the high set in 2022. Sports a 4.18 % div. Good ER. Well above major MAs . Gold cross may be in the works. Small position.

Chinese Equities Continue To Trend Higher 💸

@ivanhoff | Pro | Technicals/Momentum | Equities/Options

Chinese ADRs have been making higher lows and higher highs since early February. $KWEB $PDD etc.

Cyberark Software Shows Relative Strength 💪

@Dr_Stoxx | Pro | Technicals/Momentum | Equities/Options/Futures

$CYBR is now the fastest-growing cybersecurity play (better than $FTNT and $PANW) with 6 Q's of accelerating earnings and working on the 7th. All analysts rate shares at buy or better.

Franchising Giant Flags Near All-Time Highs 🏢

@FlynancialAnalyst | Pro | Trend Following | Equities

$WINA 🐂🚀 today as price keeps knocking on that still-rising 40 wk SMA just above rising 80 wk SMA. Inverse HnS

Airline ETF Looks Ready For Takeoff 🛫

@JFDI | Pro | Technicals/Growth | Equities

the $JETS eft looking ripe for a b/o

Traders Look To Go Shopping For Shopify Shares 🛒

@SharePlanner | Pro | Technicals | Equities/Futures

I'm keeping an eye on $SHOP as it gets closer and closer to that rising trend-line, as a potential bounce play.

A Potential Short While Everyone Looks For Longs 🤔

@ChristopherBrecher | Pro | Technicals | Equities/Options/Futures

$SO Right now SO could be a good short, as NEE already selling off. They usually move together

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