A big move for GameStop is awaiting
Updated
Its exponential moving averages are completely congested, it will soon be looking for a way out in some direction.
It has a descending volume, which can make it more sensitive to any sudden movement.
Anything can happen with this stock. If it goes up, I think it would go to at least $350 and if it goes down, it may drop to $100.
In the last 2 occasions the stock maintained a strong correlation with the VIX (that is, it rises when there is high volatility), currently this indicator rebounded slightly after touching 16 points, if the rise continues and there is a significant rebound (at 30 points or so) may GameStop do its thing again as a backup asset.
The deadline for something like this to happen is late this month or early May, so it won't be long.
GME
It has a descending volume, which can make it more sensitive to any sudden movement.
Anything can happen with this stock. If it goes up, I think it would go to at least $350 and if it goes down, it may drop to $100.
In the last 2 occasions the stock maintained a strong correlation with the VIX (that is, it rises when there is high volatility), currently this indicator rebounded slightly after touching 16 points, if the rise continues and there is a significant rebound (at 30 points or so) may GameStop do its thing again as a backup asset.
The deadline for something like this to happen is late this month or early May, so it won't be long.
GMENote
The price is already above its moving averages, although these have not yet fully taken off, I would expect them to take a bullish direction with a steeper slope.
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