GME Model thru Earnings
What is IMPORTANT is the confluence taking place at the ORANGE CIRCLE.
1. Large purple triangle is the ABCDE Triangle begun at the VERY START.
05/11 saw the final move of E-leg hit and rebound (05/12 Green).
2. Small, inside purple triangle is the ABCDE Triangle that is the E-leg of the larger TF triangle. Watch for the retest by Friday with an expected bounce away. Probs to $125 going into earnings.
3. Pitchfork Median Line identifies the upward sloping support.
4. Previous C-leg low (ORANGE Dashed line) was $77.58. E-leg only reached to $77.77 ... so far. There is still room to expand below C-leg to avoid truncated formation.
My modeling SUGGESTS a price peak ~$110. History suggest a SHORT ATTACK for earnings, I expect price to at least hit 66-ish (if not 46-ish). I DO NOT see price falling below the initial retracement set at $38.50.
From that point, on they've exhausted their long-term manipulation plays.
1. Large purple triangle is the ABCDE Triangle begun at the VERY START.
05/11 saw the final move of E-leg hit and rebound (05/12 Green).
2. Small, inside purple triangle is the ABCDE Triangle that is the E-leg of the larger TF triangle. Watch for the retest by Friday with an expected bounce away. Probs to $125 going into earnings.
3. Pitchfork Median Line identifies the upward sloping support.
4. Previous C-leg low (ORANGE Dashed line) was $77.58. E-leg only reached to $77.77 ... so far. There is still room to expand below C-leg to avoid truncated formation.
My modeling SUGGESTS a price peak ~$110. History suggest a SHORT ATTACK for earnings, I expect price to at least hit 66-ish (if not 46-ish). I DO NOT see price falling below the initial retracement set at $38.50.
From that point, on they've exhausted their long-term manipulation plays.
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