EW Theory - Bullish trendingDescending (Top declining, bottom flat), bullish confirmation, impulse wave, followed by a three-wave-correction, before bullish trend resumes. Correction wave (C) may descend farther down but there appears to be strong support at the 0.618 ($200) range, potential down side to $164 range). Important next few days, tomorrow could be good buying opportunity if holds $200, if we descend past $200 could see a drop down. Could see bullish trend resume this week Wednesday or next.
- Fib ratio to watch for before completion of Cycle wave (III) 100% (418.61), 123.6% ($489.41), 161.%% ($604), 200% ($718.60).
- Fib ratio to watch for before the completion of WAVE ((III)), 161.8% (819.12) & 200% ($1001.49)
Short term: Bullish
Long term: Bullish
Was inspired by the Elliott wave guy and am still learning the theory.
Would love to hear any ideas, comments, suggestions.
Not financial advice. I am not a licensed professional. Just a guy with a thing for charts.
Gamestop
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GME cup and handle with Gann Square timingsReiterated on my idea of the cup and handle between March 15th and now.
I first published this idea a few weeks ago, and since then, earlier then I expected, we have started the ascent to the handle. I would have expected this to only happen by early June, based on the Cann Square levels. We can see that the levels have served us well so far, so I am surprised to see this is ahead of schedule.
I expect a move to 268 with some consolidation, and then the handle to form to around 190 (.5) or 220 (.618).
I consider this trade failed if we fall below the base of the handle of 116.9
Coffee Cup on GME Gamestop #GME #Gamestopthe support at 120 - 135 range over the past weeks shows a much different dip than the previous.
looks like an upward trajectory overall, so perhaps this current dip will be a short lived bear trap.
stochastic RSI is at bottom already, much different than previous dip which took a bit to reach bottom.
$GME - Next FTD Reset or Bleed DatesHi ya'll,
By now i hope you all know what an FTD is and what an FTD Reset is and what the general cycle of these is. If not, that's too bad.
Anyway here's some dates on which i personally expect GME FTDs to be reset or to be let to bleed out as price increases.
Here's one of my few DD's explaining how i come to the conclusion for these dates amongst other things. I'd love to post these here but the format won't really paste well, so here's the link...
www.reddit.com
GME to $290? TAHey guys it’s Amir, I believe GME going to explode like at almost 30%. There is a clear gap that need to get fill. Price got rejected at 0.618 FIB level, Stochastic just bullish crossed, the reversal MACD shows that we are losing bearish momentum and I believe it’s will cross pretty soon actually. So yeah I definitely believe that the next stop it’s to fill the gap around the price zone 287 and 0.236 FIB level. By the way MA 50 is above MA 200 what means that we are at an uptrend and we looking for longs positions. Cya guys
Stocks - GME Wave 3 600 Wave 5 1000+Idea for Gamestop:
- GME broke out of a Trend Bull Flag and is in a a Trend Cup & Handle.
- Not to be outdone by AMC, GME should see a very similar performance.
- MM spread will soon be broken and they will soon be deep underwater.
- Time frame of Wave 3 is this summer and Wave 5 should be EOY.
- Long term log trend:
TP1: 600
TP2: 1000
TP3: 2000
PT: 5600
GLHF
- DPT
Gamestop Volatility Increase Into Earnings ReleaseGamestop will release its Q1 results after market close today. A few observations:
- The stocks Bollinger's increased markedly into June as activity and volatility increased.
- The 5 Day ATR (blue indicator) shows the impact of this increase, jumping from 14.06 on 24 May to the current reading of 38.97.
- Yesterday's candle shows that bulls took price up to 344.66 before losing control to the bears, with the stock closing at 300.00
A lot of attention has focused on GME, especially around its meme activity. Given the increase in volatility, ATR, and loss of control by bulls ahead of earnings make for a very compelling chart. We note that the video game retailer has dropped sharply 9 times a day after it has released its last 10 quarterly reports. The market is certainly looking at the release here with interest and there is certainly the prospect of reward. However, that the nature of the stock has changed given the retail volume of late, this reward must be measured against the increase in risk too.
The Shows Over for AMC!!!AMC has made an impressive run up. We've now completed a blow off top creating an evening star formation with a gap up and gap down. Not shown on the 1 hour chart is 5 waves down completed for Wave A and targets around $16 for Wave C, which also around the $20 breakout level before the blow off top. My target is $16-$20.
Crazy GME theoryOver the last few months GME has been forming a large cup, basically completing that cup today. If we look at the pattern from October '20 made before the first spike and current0 the formation playing out, we can find a lot of similarities.
Since the squeeze seems to still be a play - just for fun - let's take a look at how this would roll if the same pattern broke out again...
Can we get a $19K GME??? If history can show us the path, then I guess its possible...
GME TO THE MOON!!!