GameStopLong
GME Everything Is pointing towards ANOTHER RUN ! Bullish !
Not Financial Advice
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Technical Analysis :
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First looking solely at the TA , considering the ticker cyclical behavior everything shows that it should shoot up anytime.
Ascending Triangle inside the "Golden Triangle"
MACD/RSI are showing the same clear signals as before precedent runs.
Not shown on the graph, but IV is also at the same value as before JAN 2021 Run.
Now I believe more volume is required to beat the downward pressure from Bears Hedge Funds.
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Run down of possible Catalysts :
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Earnings
Now we're in this dynamic right before earnings , with the cyclical behavior in mind, it only adds to the bullish case.
Video game industry sales are extremely seasonal. and Nov , Dec are by a large margin the best months for the whole industry.
Adding to that that Gamestop sells much more PC hardware, clothes, phones... And is the process of shifting to an e-commerce model. It is plausible in my opinion that they will crush this quarter.
One of the sources : statista.com/chart/16211/monthly-video-game-industry-sales/
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SEC Report :
During June earnings meating Gamestop board anounced they were in talkings with SEC.
SEC issued a report that's overall pretty bullish from SEC, basically stating that Shorts are trapped in this case.
Source : sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf
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My personnal belief as I said is that volume is required to back the bullish case.
With FTDs rolling for Shorts we could also see a fabricated upward momentum.
We can also believe it will go to 200 then back before 170 before another run early November. In case volume is as dry as it has been lately.
Honestly no precise price target in case it shoots up, just up.
------
Technical Analysis :
___________________________________________________________________________________________________________________________
First looking solely at the TA , considering the ticker cyclical behavior everything shows that it should shoot up anytime.
Ascending Triangle inside the "Golden Triangle"
MACD/RSI are showing the same clear signals as before precedent runs.
Not shown on the graph, but IV is also at the same value as before JAN 2021 Run.
Now I believe more volume is required to beat the downward pressure from Bears Hedge Funds.
-------
Run down of possible Catalysts :
___________________________________________________________________________________________________________________________
Earnings
Now we're in this dynamic right before earnings , with the cyclical behavior in mind, it only adds to the bullish case.
Video game industry sales are extremely seasonal. and Nov , Dec are by a large margin the best months for the whole industry.
Adding to that that Gamestop sells much more PC hardware, clothes, phones... And is the process of shifting to an e-commerce model. It is plausible in my opinion that they will crush this quarter.
One of the sources : statista.com/chart/16211/monthly-video-game-industry-sales/
___________________________________________________________________________________________________________________________
SEC Report :
During June earnings meating Gamestop board anounced they were in talkings with SEC.
SEC issued a report that's overall pretty bullish from SEC, basically stating that Shorts are trapped in this case.
Source : sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf
___________________________________________________________________________________________________________________________
My personnal belief as I said is that volume is required to back the bullish case.
With FTDs rolling for Shorts we could also see a fabricated upward momentum.
We can also believe it will go to 200 then back before 170 before another run early November. In case volume is as dry as it has been lately.
Honestly no precise price target in case it shoots up, just up.
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