GME broke out of a beautiful symmetrical triangle. I can buy on the break above the upper supply area. However, it has recently been downgraded to a zacks rank of 4 (sell). There is however a possibility of a buy out which would result in significant move to the upside. Also, zacks analysts do not expect GME to meet earnings estimates which is not too far away. I will go long in my paper trading account to learn from such a situation.
Trade active
Went long today on the breakout in the morningTrade closed: target reached
exited at 16.86 might re-enter on pull back
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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.