We have been steadfastly saying that GMEs price structure is bullish
Even as price made its way back down to under 19 we were pounding the table on here saying that NOTHING HAS CHANGED with the price structure
The reason we can be so confident is because no matter what Reddit says- TECHNCIAL ANALYSIS WORKS ON GME
We use a simple system that combines Elliott Wave Theory with Volume analysis to determine probable turning points in the market
With that said GME has one of the most BULLISH price structures we have ever seen in a stock and is adhering to EVERY Elliott Wave Theory rule
NOW WHAT?
At an absolute minimum we should see price move over 100 and make new All Time Highs over the next 4-6 weeks (full disclosure- we are less confident about the timing than we are the price targets)
We think approx the 38 level is where MOASS gets triggered
That is the approx level where Hedgies entered into the 2022 SWAPS agreement that expired end of May
The 38 level also coincides with the approx volume weighted average price as measured on a weekly timeframe from the peak of the Jan 2021 squeeze to Fridays close...WE DO NOT THINK THAT IS COINCIDENCE
So from here we will let the chart lead the way
But as we have repeatedly said...EVERY FIB YOU SEE ON OUR CHARTS IS IMPORTANT..ESPECIALLY the 618s (0.618, 1.618, 2.618, etc)...watch those as they will help guide the way
G A M E O N