GMEGameStop (NASDAQ:GME) The stock gained more than 150% last week on strong volume accumulation and it has been in a bullish consolidation over the last two trading days after a big move on Wednesday that took it from the mid-40s to mid-180s. A successful break of this bull flag pattern on H4 could set the stage for stock to test the price region around 200. Technical indicators are looking bullish to me.
Gmechart
Clearly upwardLots of talk across the subs and social media etc about a launch, and some interesting discussion about the cup w handle pattern. The CwH may pan out, but there are some loose requirements that this pattern doesn't fulfill. We'll see if that's in the cards. Also, that would translate to something like 700/share or something to that effect if it follows the "normal" run of the CwH. Given the potential this has from the unbelievably painful place the HFs are in, I expect it to go much much higher. Maybe it'll get to the 700 area and retrace a little then go back up? Who knows.
In the chart here I saw that there's a very consistent upward trend line showing the way to reasonable expectations for the price action. It may prove more accurate in the long term.
I'm long the stock and have no doubt that we'll see some completely bonkers returns, but as far as a timeline I'll leave that to the dreamers. No way of telling for sure. All I know is, at some point, the shorters are gonna have to pay the piper. If they don't it will have devastating repercussions on the American free market, and the world market as a whole. No one will trust the American market for a very long time and the long-term losses will be astronomical. It will effectively tell the world that democracy and free markets are dead.
I have trouble believing the government would pass up the opportunity to collect all those tax dollars from all us knuckle-dragging, poo-flinging primates once we drain the HFs, anyway. But, given what complete turncoat, lying mfers they've been we can only hope they'll play by the rules that got us all into this whole thing.
Either way, hodl me hearties. Hodl. It's worth my money to make them sweat.
NEVER FORGET 2008.
GME It's difficultHi everyone,
Seems we start with a very big bull candle after days off selling pressure.
Depending if the bulls can overtake the next resistances and build up support zones we could see higher process, maybe even extreme high prices when the gap is filled.
This won't be considered a short squeeze since most short positions are already covered - this is the effect of having a stock being oversold and is now seeking previous price areas.
I do remain with the scenario that even if we see high prices this would be followed by a downward pull back back to the fundamental price.
Currently price is too artificial, too many traders/investors who "like the stock" without long term vision.
Long term: GME could be revived and do a great comeback in the retail sector but this can take a while
The GME management has some challenges to overcome - time will tell if they can pull it off as a company!
Kind regards,
Noel
GME - GAP is being filled I'm all in for the movement - they've showed big FU candles to Wall Street.
But with all the sentiment now, I think most now, especially the ones that bought high are chasing hopium.
The issues here are: there too many new traders here thinking they've found the jack pot - and too many new waters to discover concerning regulations.
Everything can happen, don't risk what you can't afford to lose.
Be safe!