GME Bull Trend AnalysisBullish trend based on the second gold cross-- along with the occurrence of a possible second (short squeeze) repeated pattern almost 4 years later.
Gmechart
GME Gamestop Technical Analysis and Trade IdeaIn a recent video, I covered a trade idea prior to the Gamestop (GME) bull rally. Since then, we’ve observed a significant bearish movement. I’m closely monitoring the current price level for another potential buying opportunity, provided that price action aligns with my analysis from the video. The market is currently moving sideways, and if we wait for increased volatility above and below the range, we might be able to capitalize on a bullish trend by entering a break re-test and fail of the range on the 15-minute chart if we see higher highs/lows forming.
The video covers critical elements, including trend analysis, price action insights, market structure, and a potential trade setup. Always exercise prudent risk management when trading, and keep in mind that this information is purely educational and not financial advice. 🚀📊
GMS Gamestop Trade Idea and Update (previous video)We can see that GME Gamestop has rallied. If you haven't already it's time to move your stop loss to break even from my last video trade idea. In this video we look at price action and discuss a new trade idea. But ways this is for educational purposes only and not to be construed as financial advice.
GME Gamestop Technical Analysis and Trade IdeaIn our recent video, we conducted a concise technical analysis of GameStop (GME). After a bullish rally, GME became overextended, hitting resistance levels and subsequently retracing significantly. Currently, we’re closely monitoring key support levels. Our primary objective is to pinpoint an optimal buy entry point within this critical support zone, provided that price action aligns with our analysis from the video.
As always, our video provides valuable insights into trade entry points, trend analysis, market structure, and price action. Remember that this content is for educational purposes only and should not be considered financial advice. 📈🚀📊
GME Gamestop Technical Analysis and Trade Idea👉 In this video, we closely examine GameStop (GME). The stock has been range-bound for some time, showing lower highs and lower lows, indicating a slight bearish trend. Despite this, my focus is on a potential long position rather than shorting the stock. We explore a possible buying opportunity if the price action aligns with the scenario discussed. If the price continues to decline, we will abandon the idea.
In the accompanying video, we delve into the trend, market structure, price action, and other crucial elements of technical analysis. Remember, this video is purely educational and not financial advice. 📊✅
GME - Week of June 17, 2024NYSE:GME - Thesis
- Management is Ryan Cohen; the buffet approach
- With over $4 billion in cash, Game Stop has a better Price-to-Cash valuation than plenty of companies inside NQ.
- RK comes back after a three year hiatus, with transparency of his portfolio.
- Market structure is forming a moon landing to $120+ per share.
- And with a cultist group of degenerates (like myself); Hedgies Getting Wedgies - Dumb Money 2 will be made.
Despite all of this.... I can be totally wrong & management could rug pull everyone and it goes straight down to zero.
Nothing I post is financial advice nor investment advice....
I simply like this stock!
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. 📈👍
Another likely outcome for GME.If the previous chart that I posted regarding GME doesn't play out as I hypothesized, this is another likely outcome. Prize rises slightly out of the wedge pattern, which will trigger many buy orders as many trader's would see that as a bullish sign, then sharply reversing, and dropping down below the wedge to the bottom (dashed) support line, leaving many bulls holding the bag at higher prices.
GME $ ALERT we are consolidating between a major support and resistant , if we break from below we going to visit the support above the 18.85$ where we going to have a reversal, and if we broke the resistant from above, we going to have another profit taking between the 32$/35$.
GME H&S?GAMESTOP is showing little to no buying pressure at this area of support AND has failed to create a higher high on the Daily chart. Look for short opportunities below $19. I personally would be looking for an short entry if price where to break support and return to retest it, causing support to act as resistance with an exit well before the area of demand (Green Line [ first big candle of uptrend ])
GME 2023 $ Squeeze Target we bounced from our support above the 15$, now we need to clear the resistant around the 22.20$, to continue this bullish momentum till the 25.50$, then the critical area of profit taking + rejection if we didn't clear it, will going down to have a reversal from the 10$ bottom for this year .
if we clear that critical area (32$/35$) we going to have squeeze till 85$, which will make the mega squeeze for GME once again .
GME Breakout Alertwe getting near to important breakout around the 40$, if we did and hold we going to test first the 49$, then around the 60$.
NYSE:GME
Back in the GameGameStop
Short Term
We look to Buy at 118.26 (stop at 110.74)
Preferred trade is to buy on dips. As this corrective sequence continues we look to set longs on a dip at better risk/reward levels. Levels close to the 50% pullback level of 115.39 found buyers. Further upside is expected although we prefer to set longs at our bespoke support levels at 120.00, resulting in improved risk/reward.
Our profit targets will be 147.26 and 180.00
Resistance: 150.00 / 190.00 / 200.00
Support: 120.00 / 90.00 / 77.00
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Is GME Making a Recovery?17 hours ago
GME has pushed itself above the 50MA on a weekly timeframe
If it can close above this level before weeks end, GME may still push a new ATH
GME: Hype Over?First, you must fall, then you can rise. This old saying also holds true for the GME stock. We expect the price to drop to around $54.58 and then go on to reach new highs above $500. So, there is a lot of potential still with this stock. However, the current correction needs to fully unfold, before the potential can be realised.
Any new year's resolution already?
GME is over big On the volume indicator, I can see distribution on the shares the bulls have collected their profits, letting the bears enter the rally,
In January 2020 the GME stock has got a huge pump coming from social media like Reddit and Twitter, which prompted the platforms to limit the number of shares purchased as a maximum, and prevented some platforms from trading the stock,
the stock now is on the pump and dump rule, if there is a piece of bullish news the share will go high,
we prefer to take the safe side for now while we see the market had crashed. Sell will be in a good position on this stock right now.
GameStop 2nd massive wave of GME known as meme stock coming !?! After breaking the downward trend line and closing way above it. It is to be expected the GME start a massive rally similar to the one it made earlier and make new highs. Key levels are mentioned in the chart.
PS. such stocks shouldn't be invested without proper risk management. Don't forget to put stop losses near resistance area.
GME GameStop Price TargetGME Gamestop bounced from support and now looks like it`s heading for the resistance.
My price target is $226
I`m looking forward to read your opinion about it.
GME reached important support levels. Is the bottom in?GME reached the 200 MA on the 8h + extended hours, it hit the S3 weekly, the diagonal support, a VP HVN and it managed to get into an area that was previously resistance (currently turned into support). So to me this either is the bottom, or GME is in trouble. This is a massive combo and the structure of GME in the long term is still bullish. In my opinion the double top at 340 has a change to break and is what has me quite bullish.
Of course there are several issues in the global economy, meme stocks haven't been doing well and so on... but this doesn't mean that we can't see another big rally. That requires that things don't crash right now and that we stay in a bullish environment for stocks... which over the last few weeks/months has been turning bearish and mostly favoring large caps. Going long here isn't a bad choice imho with stops below 160, otherwise wait for the market to close above 220 to start looking for longs.
GME Long-term LONG/BULLISHGME haves been holding strongly an amazing support at the Fibonacci Retracement's 0.618-0.66 and is ready for it's next shot towards the moon, the current 0.618 (TP1) for the Fibonacci Extension is at $334.77, good luck ya'll!
GME Breakout Day 11 - Sling Shot Maneuver Major Price action today, drop (with gap down) hitting a low of 211, and closing today at 220.
After hours is up slightly to 230 which is pretty interesting.
The thought is with the higher volume day at 22.7 million is that Gamestop sold all or most of the 5 million shares they announced they could sell yesterday.
The last time GameStop completed selling 3.5 million shares in April the stock spiked.
Even if Gamestop doesn't come out and say how much they sold the slight violation of the curved line trend is ok. It looks like a bounce, not a break.
Especially if GME opens higher then the close today, which looks like will be the case.
Further, it looks like GME has been cleared to be moved from the Russell 2000 to the Russell 1000, and all the shorts in that EFT related to GME will need to be bought back which is a pretty big deal and that date of EOD June 25 switchover date is fast approaching.
TLDR
Resolution of the multiple gap ups after 217(creating a gap down between 280 and 302)
GME partially or fully sold 5 million shares. Means > Limited further selling pressure (need confirmation).
Bounce off the Curved log trendline(pending confirmation tomorrow)
GME moving from Russell 2000 to 1000(basically confirmed, just waiting on a press release)
GME almost always drops after earnings, but the drop is limited and recovers well.
Buckle in, because I think GME is ready to pull some G's.
GME Breakout Day 10 - Final TestAlright guys, confirmed amount of "normalized" voting shares released via the 8k is 55 million.
Is this the number of shares that actually voted or is outstanding?
NO. Gamestop cannot report a number higher then the issued share count.
Based on the number of mostly foreign brokers that blocked voting and brokers that allowed voting and advised only a fraction voted, we can guarantee that that number is significantly higher then the reported 55 million in the 8k.
And to be clear, Gamestop is told how many shares actually voted. I don't think they are allowed to ever directly release that information.
What does this mean?
Nothing has changed, the squeeze is still on.
Overview:
Here is the long range shot of where we stand. The After hours drop from 302 to 260 touched briefly the DEC 2020 straight line log trendline then bounced hard on 2.5 million AH volume.
260 was the price just 2 days ago.
I have a high degree of confidence that bullish trend is very much intact as this drop occurred after hours.
The only short term trend that was violated was the trend from June 7th which isn't a big deal.
Expecting pre-market 9/10/21 positive as long as the trend from DEC 2020 remains intact as well as continued increases in OBV.
GME Breakout Day 10 - Throttle Up Flight CheckTomorrow is the the shareholder meeting
Further tomorrow is 10 trading days from the initial spike from 180 to 210+ from May 25th
The previous spikes were>
January 13th we had the spike to 25 dollars~, then 10 trading days later we had the spike from 150 to 483
February 24th we had the spike from 38 to 80 dollars, then 10 trading days later we had the spike from 250~ to 351.
June 9th is 10 trading days after May 25th.
We have a much higher starting base, 180 as opposed to 6 dollars in January and 38 dollars in February.
This means massive installed retail base, much of it is willing to hold to high amounts.
Today was also the highest LOW ever for GME. the lowest recorded was 281 today. Even in January the swings were massive but the lows were lower than today.
3rd highest close ever, the only other 2 days were in January.
I sit here trying to not confirm my bias too much but with the amount of tested unfilled gap ups in the last 10 days I think we will be in uncharted territory soon.
Good luck, and hang in there.
