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GME Gamestop Technical Analysis and Trade IdeaHistorically, GME (Gamestop) has been in a downtrend when we look at the monthly time frame. However, recent developments indicate a potential shift in the trend. As we zoom in on shorter time frames (weekly and daily), we observe signs of bullish momentum. Buyers may find opportunities in these time frames. In a video, we explore a potential trade idea. First, on the 4-hour chart, we notice that the price has retraced into an optimal buy zone. Next, we delve into the 15-minute chart, waiting for specific price action confirmation before getting involved. Remember that trading carries inherent risks. This information is intended for educational purposes only and should not be considered financial advice. Always manage your risk wisely. 📈👍
NYSE:GMELong
by fxtraderanthony
7
GME Euphoria time?Analyzing GameStop is always difficult. I have seen the previous reddit pump some years ago, and it was pretty hard to find possible entries and reversal pattern. But this time the chart is giving us some useful info. We can see a break above daily trendline, and the black box a liquidity zone (actually a resistance). The main chart looks bullish, and today's pump can be a signal of a possible round 2. To confirm a bullish trend, we must close a daily candle above the black box, that will eventually help us reaching the top again. If the community will try to repeat the miracle again, this time funds will be prepared and it will not so easy. But, on the other hand, community is stronger now and probably bigger. Let's see
NYSE:GMELong
by SaliJournal
GameStop Stock Soars 45% on 'Roaring Kitty' Posts on Twitter GameStop shares surged 45% as markets opened on Monday, with Keith Gill, also known as "Roaring Kitty," posting to social media for the first time in nearly three years. Gill was a key driver of the meme stock craze of late 2020 and early 2021, rising to prominence due to his substantial bets on the stock. Gill's enthusiasm over the stock drove the online excitement, along with other figures, including activist investor Ryan Cohen, who worked his way to the GameStop ( NYSE:GME ) board and was named CEO last year. Gill was a streamer who bought $53,000 worth of GameStop ( NYSE:GME ) shares in 2019 after learning about the investing world and becoming convinced that the retailer was undervalued. At the peak of the meme stock surge, Gill's position was worth an estimated $48 million. He eventually said goodbye to his online persona, last posting to YouTube and X (then Twitter) in 2021. Users of the WallStreetBets subreddit, the online community that was central to the GameStop ( NYSE:GME ) surge of 2020, expressed excitement about Gill's return, with many top posts on the forum about Gill's post or GameStop's price as of Monday morning. GameStop ( NYSE:GME ) and the company's stock symbol, NYSE:GME , were each trending on X Monday morning, with many users celebrating Gill's return and posting about their investments into the stock. GameStop shares ( NYSE:GME ) are still well below the all-time high of $120.75 they reached on Jan. 28, 2021, but more than double its value from the start of May.
NYSE:GMELong
by DEXWireNews
Shares of GameStop ($GME) Stock Climbed More Than 13% ThursdayGameStop ( NYSE:GME ) stock has risen 13.1% to its highest close since December, marking a resurgence for the videogame retailer and original meme stock. The stock closed at $18.01, its highest since December 28, when it ended at $18.07. GameStop ( NYSE:GME ) shares also recorded their biggest single daily percentage gain since May 3, when they climbed 29.1%. Despite facing significant challenges, GameStop's stock price has surged, reminding investors of the 2021 surge from less than $10 per share to $120. Revenues in Q4 dropped to $1.79 billion, down from $2.2 billion in 2022, and analysts expect revenues for 2024 to be $4.9 billion followed by $4.7 billion in 2025. The gaming industry is changing, with people preferring to buy gaming consoles online directly from manufacturers or third-party sellers. GameStop's attempts to diversify its income have failed, with its entry into the Non-Fungible Token (NFT) industry failing. Despite this, GameStop ( NYSE:GME ) still has one of the best balance sheets in the industry, with little debt of just $17 million and capital leases of $386 million against cash and short-term investments of almost $1.2 billion. In 2023, the company made almost $50 million in interest income, helping it turn a small profit of $6.5 million. The daily Price chart shows that GameStop's stock price has soared due to a falling wedge pattern, which is one of the best-known reversal signs. Traders need to be cautious of a trend reversal as Gamestop stock ( NYSE:GME ) has a Relative Strength Index (RSI) of 75.89 which is in the overbought region.
NYSE:GMELong
by DEXWireNews
$GME 🚀 It's Moon Time! PT:$11.56 & $14.37Hello everyone, I know you all have been waiting for a big update. Here is the tea: First PT coming in at the daily at $11.56. Break above the daily and the next PT is at the weekly $14.37. These two will act as very hard resistance and if both are to break then we will head to the monthly at $21.10, but we will analyze that part when we cross that bridge. RSI indicates that GME is in the bull zone right now. The MACD is slowly curling up and if the lines cross above the 0 line, then that would indicate a very very bullish signal. If GME rejects the daily, then price will trend lower and will test the hourly at around $10.62ish. Anyways, there is room to run here folks! Strap in because this is just the beginning. $9.94 was the low and it won't be returning there anytime soon. Not financial or sexual advice.
NYSE:GMELong
by SierrasTrades
7
$GME: 🚨Most Important TA Ever Part 2 Heading Back to $14🚀🚀🚀Hi everyone, Financials GameStop is in an exciting phase of transformation and financial stabilization, as shown by its latest financial report. The company has successfully turned a significant loss into a net income, indicating not just resilience but strategic navigation through market challenges. A standout is the positive shift in EBITDA to $64.7 million, signifying GameStop's improved operational efficiency and ability to generate profit from its core activities. Despite a dip in net sales, GameStop has showcased excellent cost management and maintained strong liquidity. This, combined with strategic leadership enhancements, positions GameStop well for tapping into the evolving gaming and retail sectors. For investors, the improvement in EBITDA is a positive sign of GameStop's growing ability to fund operations, invest in growth, and potentially offer shareholder value from its main business operations, rather than relying on financial maneuvers or asset sales. This makes GameStop a compelling investment choice for those interested in a turnaround story within the dynamic retail and gaming markets. Technical Analysis Every time GameStop has made a double bottom, there has been a significant rebound to the upside. May '21 + Aug '21 (+80%) Mar '22 + May '22 (+149%) Jan '23 + Mar '23 (+79%) Nov '23 + Apr '24? (+?%) The indicators continue to show a bearish trend, suggesting a potential further decrease in price. NYSE:GME recently touched the 0.786 Fibonacci retracement level. If positive news or market actions occur, there's a chance for a rebound up to the daily resistance. Downside PT: $10.68 Upside PT: $14 and $15. (Price needs to stay above $12.78 for this to potentially play out). Will be updating this as it plays out. All the best! Good luck and not financial or sexual advice. :)
NYSE:GMELong
by SierrasTrades
7
$GME: Return to $15? 🚀🚀🚀Hi everyone, In my previous analyses, I anticipated a potential price drop that could form a double bottom pattern if GameStop earnings weren't great. Recently, GameStop's stock failed to surpass a crucial weekly indicator, leading to a sharp decline. Moving forward, if the stock rebounds, I'll be monitoring its response to the first resistance level; breaching that could signal a push towards significant resistance on the daily and weekly charts. Will update here if something exciting happens. Maybe insider buying in the next 2 weeks?
NYSE:GMELong
by SierrasTrades
$GME: 🚨 Most Important TA Ever. $21 and beyond 🚀💎🙌Hi Everyone, In my previous posts, I explained that NYSE:GME needs to remain above crucial levels to ascend, predicting a bounce between $13-$16 before earnings. Here we are, and according to my indicators, $15.44 needs to be surpassed and maintained tomorrow for a climb to $21 . Currently, during Robinhood's extended scam hours, it's at $15.68, peaking at $15.78. What happens after reaching $21? If GameStop reports profits exceeding Wall Street's expectations, we could see a breakthrough above this significant resistance level, potentially igniting a meteoric rally to $32 and then $41. At $41—where I'd consider taking profits—some resistance is anticipated. Beyond that, $56 and $298 are the next targets. However, a surge to $21 before the market closes could see a retest of this level, with real momentum expected if it breaks during regular trading hours. And if we gap down? A gap down could occur if GameStop's earnings beat expectations but with unimpressive profit margins, potentially leading to a double bottom pattern before a subsequent rally in after-hours trading or the days following. Conclusion Get pumped! Envision this: Ryan Cohen and team doubling down post-profit, pushing the price to test $41 and ultimately reaching new highs, with potential buybacks on the horizon. As always, this is not financial or investment advice. Trade cautiously tomorrow, folks! I'll try to post an update tomorrow. If you found this insightful, please leave a like or follow. 🚀
NYSE:GMELong
by SierrasTrades
4
$GME: 🚨 $21 next target 🎯Hello everyone, Hope everyone is excited as I am for this next move up. If NYSE:GME is able to break above $15.81 and hold it there with a 4hr or daily close, then price should move up towards $21. Conversely, if NYSE:GME fails to break above and hold above those levels, then NYSE:GME will fall down to the $12.40 area with a hopeful bounce at $13.50. Overall, I'm still bullish on NYSE:GME because the indicators suggest it is still in a bullish configuration. Since my last post where I forecasted a pop to $15.76, NYSE:GME may retest $15.05 before bulls take over and break above $15.81 to make the move to $21. Good luck, everyone! As always, not financial or sexual advice. 🚀 I will try my best to update this post once we see some action on either side.
NYSE:GMELong
by SierrasTrades
4
$GME - That time of the year againIt's a bit early to celebrate, but i see decent signs of another GME run happening soon, at least within February. I i said, it's a bit early and the data needs several more days of prints to verify, if that's the case, i'd be setting this post to "Trade Cancelled" and i'd make a new one in it's place when its time. Now that warnings have been given, it looks like we might be having a strange and weirdly early run on GME, possibly covering before earnings, repositioning and dumping it on earnings. If the above is true, Vix may be on its way to 19 by next week, SPY may be wanting to dump. The data imgur.com There is a spike in progress. If it doesnt fizzle out, we're going to see some price action soon. The timeframe is still unclear. Initially i think we could see something next week but i need more data to verify. It is possible that this may be a buildup for a post-opex run, but it's still too early to say. This run doesn't quite fill all my criteria for a run, but i'm posting it just in case. I also have secondary data indicating that this is already a dud/no run, but here we are anyway. So we may see something: -Next Week -Around the 22'nd -Or not at all Updates daily. If i think nothing's happening i'll be setting the post to "Trade Cancelled". I wont be reading or replying to comments.
NYSE:GMELong
by leenixusu
25