GameStopLong
GME Ready for a Major Move – A Happy Christmas Move?
GME recently broke out of a 3-year-old bull flag pattern, encountering strong resistance at the 200-week moving average (often referred to as the "big red"). After rejection at this level, the stock found solid support at the 50-week moving average, which is a bullish signal.
It appears to have formed a bullish pullback and is now beginning to move upward again. The stock briefly paused at the 200-week moving average once more, and now it needs to break through this level with significant momentum.
Once GME breaks above the 200-week moving average, it could trigger a powerful rally, potentially propelling the stock to all-time highs. At that point, it would likely become unstoppable.
The MACD and RSI indicators look bullish and remain far from overbought levels, signaling room for further upward movement.
With $4.5 billion in cash reserves, GME has the potential to become a standout performer in 2025.
Patience is key, as big players rely on retail investors to give up and sell their shares, making it easier for them to cover their positions.
It appears to have formed a bullish pullback and is now beginning to move upward again. The stock briefly paused at the 200-week moving average once more, and now it needs to break through this level with significant momentum.
Once GME breaks above the 200-week moving average, it could trigger a powerful rally, potentially propelling the stock to all-time highs. At that point, it would likely become unstoppable.
The MACD and RSI indicators look bullish and remain far from overbought levels, signaling room for further upward movement.
With $4.5 billion in cash reserves, GME has the potential to become a standout performer in 2025.
Patience is key, as big players rely on retail investors to give up and sell their shares, making it easier for them to cover their positions.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.