Strategic entry points after GME’s technical explosion
Updated
GME experienced a significant advance following ‘Roaring Kitty’s’ appearance on social media, which caused quite a stir and a sharp increase in the stock price for both GME and AMC.
After a spectacular rise, including a gap-up opening, the price began to fall, trapping many traders, as often happens in these types of technical explosions while seeking to fill the gap.
Now, after the gap has been filled, there is a good buying opportunity, as a punctual bounce back is very likely, where one could generate a quick profit. However, even though the odds are in our favor, we should always protect ourselves with a stop-loss order right after opening the position, to cover our backs.
After a spectacular rise, including a gap-up opening, the price began to fall, trapping many traders, as often happens in these types of technical explosions while seeking to fill the gap.
Now, after the gap has been filled, there is a good buying opportunity, as a punctual bounce back is very likely, where one could generate a quick profit. However, even though the odds are in our favor, we should always protect ourselves with a stop-loss order right after opening the position, to cover our backs.
Trade active
GME, after closing the bullish gap, remains in a buy zone as long as it doesn't hit the stop loss.Note
Stoploss at 15.93Note
Gamestop bounces back after closing the gap.Note
Gap closed and bullish momentum from it, like pump and dump."
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