GameStop | Real Roller Coaster
Updated
What a ride it has been so far for 
GME this month. It is like an actual roller coaster: from having January flashbacks with insane gains, towards a huge sell-off within minutes. GME has been haltered several times today where we experienced a 50% drop within half an hour. Since then, it recovered and hovers around the ~ $260 area. These developments are crazy, but very interesting to see. Where shorters are having a hard time as of this moment, Reddit HODLers are waiting for new highs. I personally think we will have the same effect as the one from late January. At that time, we saw a huge sell-off, followed by massive regains. We can already see the same effect happening a bit as of this moment, but I hope to see GME moving back towards the $300 range first, with eventually having a better outlook than late January’s. In the end, this stock is very, I mean very volatile at this moment. Will we see more upsides, or will GME face another cool-down period? What do you think?
GME this month. It is like an actual roller coaster: from having January flashbacks with insane gains, towards a huge sell-off within minutes. GME has been haltered several times today where we experienced a 50% drop within half an hour. Since then, it recovered and hovers around the ~ $260 area. These developments are crazy, but very interesting to see. Where shorters are having a hard time as of this moment, Reddit HODLers are waiting for new highs. I personally think we will have the same effect as the one from late January. At that time, we saw a huge sell-off, followed by massive regains. We can already see the same effect happening a bit as of this moment, but I hope to see GME moving back towards the $300 range first, with eventually having a better outlook than late January’s. In the end, this stock is very, I mean very volatile at this moment. Will we see more upsides, or will GME face another cool-down period? What do you think?Note
Just a recap of GME’s TA timeline:On January the 28th, we saw a huge sell-off, followed by massive regains. Thereafter,
GME unfortunately formed an Eiffel tower effect and went all the way down towards the ~ $40 area. But then, in a sudden GME stocks were up again on the 24th of February, followed by an ascending triangle, which resulted into a massive Bullrun. Where today, we saw again massive upsides with ~ 40% + gains, followed by the sell-off, and now GME is hovering around the range of ~ $260. Looks like the Reddit HODLers are stronger than the shorters at this moment.
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.