Gamestopbuy
GME consolidating, bounces off support, hits resistance Using fib channels, we can see the last time GME bounced off the bottom, it rocketed up to the golden ratio.
Right now GME is not only consolidating, but it also perfectly hits the bottom of the fib channel once again. If we take the exact timeframe of the last rise and place it right on the bottom resistance of the fib channel, we can see it perfectly hits the first line of resistance by early June.
Gann Fann Appreciation Post, plus a word on CharityI just started messing around with this little tool in the last month or so, and it's really interesting what it shows. Kind of incredible, really.
There's an amazing amount of shadiness happening in the background with $gme, so predicting price action in the short term is going to be difficult. All I can say is that this isn't going to be comfortable for individuals or institutions with over-leveraged short positions. How long it might take is hard to say, but this is going to be historic one way or the other.
For all apes hodling with diamond hands, I'm really impressed with you all. You're really doing an amazing thing and your fortitude commands a lot of respect.
I love that you're adopting gorillas, buying game consoles for kids in hospitals, and all the other good things I see you doing. If I have the good fortune to realize the returns we seem to have coming to us, I'm going to donate to three charities. If you are looking for good ones to give to you might consider these:
innocenceproject.org : This is an organization of attorneys pushing for wrongly convicted people to have their cases reviewed and get them released. It's an expensive undertaking, and they need help.
Fight Malaria through www.givewell.org : The cost of saving a human life has been discovered. You can do it, too. Nowhere near as expensive as you'd think. For more info, this article is pretty good medium.com
www.stjude.org : This one is pretty famous, but their work is crucially important for research into the prevention and treatment of pediatric cancers.
Hats off to you, apes. Hold the line. We go moon.
A possibility...So, the red key there I put next to a segment of red line. When it comes to these pennant continuation patterns, my understanding is that when they complete they go up by roughly the measurement of the left side (flat side) of the pennant. That segment of red line is the same length as the green arrow over on the right.
What I'm thinking is that the pattern might complete at some point along the horizontal green line above the pink arrow, and from there go up roughly as high as the length of the back of the previous pennant.
Just thinking out loud here, folks.
Happy to hear your thoughts!
GME's New BasementI'm going to start off with, I told yall so.
Now that that's out the way, we are leaving my area of expertise.
I got a warning placing a trend line alarm that I should switch to log, and that's when I realized I'm just along for the ride.
After reading through everything I have, I fully believe this thing is going to the stratosphere and I'm proud to be along for the ride.
My plan is to sell at 777 a small portion to cover most of this years expenses.
I have a confirmed order placed for my wife's contribution to go off at 1,600.
The rest is riding till I feel it's time to leave.
This will be my last post on this until we get back to this range after, where I plan to put most if it back in.
I'll update with sells.
Goodluck, and happy trading.
172 @ 50.23
PT Infinite
GME 1st VerificationI drew up some guesstimate lines yesterday, and it appears we have our first verification.
We still need a bullish verification, but that bounce in AH leads me to believe its coming.
If I had to guess, double bottom off psychological 40 but that's just a guess.
Goodluck. Happy trading.
172 @ 50.23 avg
250 PT
GME possible targets, 95% reached Wave 2Hi everyone,
this retracement has been hard but in reality Wave had already retraced 95% of W1.
Here a some potential minimum targets for the next impulsive.
161.8% : 216.20$
261.8% : 259.75$
361.8% : 374.58$
Minimum possible target for W5 will be IMO around 322.34$
Which you the best everyone, it's always easier to climb a mountain with
the wind on your back !
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WE LIKE THE STOCK (GME END GAME)Okay, on a more serious note, if you have made life changing money from holding on to GME, for the love of god please take some profits. Pay your bills, mortgage, help out your family or someone in need. I am saying, nobody really knows where the top can be, or if the squeeze is even completed. For all we know Melvin/Citadel already drove the price into sub $100 range closed their positions. You've already done well, you've held and gave wall street the middle finger. Don't let them fuck you again by letting huge amounts of money go down the drain. This TA is simply based on fibs and EW, and is a total crap shoot. I'll pat myself on the back if it actually plays out :D
GME Looking Lunar?I couldn't help myself, so I did a little TA on GME.
It looks like we could consolidate and attempt to breakout of some sort of structure soon. It looks to be forming a descending triangle, which is typically bearish, but my whiskers are telling me there are too many factors and forces involved here for any amount of certainty.
The Fib levels give us an idea of a reversal zone on a pullback, and I generally consider the .5 to .618 area the reversal zone. I'll be hiding in the bushes and waiting to see if the top green support zone holds.
Here is the 30min chart for a little more detail.
This is an unprecedented situation, and I wanted to find as much objective reality as I could.
It's what werewolves do. Owhooooo!
GameStop $440 in premarket GameStop GME, the video-game retailer that is closing shops because of Covid and became famous now with it's association with the Reddit message board-fueled retail attack on institutional short sellers has just touched $440 in premarket trade.
The loss-making retailer was priced at around $19 heading a few weeks ago and $60 last week before storming higher.
GameStop has become the poster child for the 2021 stock market and its incredible volatility and speculation. The stock has gained 1,700% in January, causing pain to short-sellers. A trade like none we have seen before.
The huge moves in GameStop (GME) stock have been, very clearly, the result of a short squeeze. A squeeze is a phenomenon that can occur after big gains happen in a stock that, in turn, cause mounting losses for short sellers who are forced to cover their positions.
Even Investopedia had to rewrite their short squeeze articles.
WHAT'S NEXT?
People hunting for the next Short-squeezes will be a new hobby to many. Especially young traders, normally those who are currently on Instgram and Telegram groups about cryptos.
What I would also expect is the SEC coming out with some new circulars.
ps. I heard about this on Youtube but for sure there will be a film about all this in a few years. Title ' The Big Squeeze' 🙈
Gamestop: Is It an Act of Pump & Dump ❓The Game Stop share has been in a rally since mid of January.
The last two days this stock rallied from 79.30 $ to 355 $ / share, this means an increased in value by 4.5 times or 348 %.
Many analysts and investors they are insisting that there is an act of " Pump & Dump " which is illegal, and if anyone is found guilty of that will end up in Jail. One of the main drive of this hype is the social media communities such as "
WallstreetBets ", and " Reddit " where traders are promoting this stock to pump it. As we know in " Pump & Dump " scheme , a group of traders make a huge amount of profits in a short period of time by holding a micro or
small cap stock and try to pump it by convincing other traders to buy it, and once the buyers come in, they dump their shares and cause a huge drop in the share price.
Now everyone is talking about this share, and curious of what will happen next. Currently, at this price level there is no much historical data to predict what's next. All we need to rely on to predict what's the next price might be, is to
use the round numbers in case the price continued the upward movement.
Let's see when this fiesta will end and if there will be any bloodbath after the rally ... ❓
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GameStop (GME) doesn’t want to stop ! where is the next target?So the stock went PARABOLIC in the last weeks – starting with full ignition on the 13th of January.
Stock needed to correct down which shows the motive wave is healthy and it is less likely to tumble down as we got a correction almost to the 50% line, so let's break it into targets :
1. Finish retracement at 31.50$ -the lowest we want to see the stock goes, below that means we broke to the 38 line – the red square in the chart. IF we get to the 38% line that means the motive wave is NOT an impulse wave ( strongest wave) and that the stock price can fall even further.
2. After accumulation has accord between 31.5$ to 35$, the stock needs to continue to the third stage of the motive wave and go up above the previous highest high breaking the 43$ price target.
There we will see some correction happening and accumulation again – if it’s a healthy trend, and we will aim for the next target.
3. This target is a bit presumptuous but if our last target gets hit we are looking at big gains on Gamestop – the target is above 50 towards the 52$ mark.
If the stock reaches this target we believe this will be a great exit point, as the price will need to correct a minimum of 30% down and we do not want to be there for that correction.
Please keep in mind we analyze the market according to Eliot wave theory along with market cycle on something we call ‘Market Cycle Based Analysis’ which can be a bit aggressive at times but in this bullish market, we believe this analysis is more valid than ever!
Be safe and trade safe!