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Gmelong

196 is next resistance for GME196 was the high in April, so that is near term target. 2 days closing green over 180 after not being able to break it for 3 weeks is very positive. Tomorrow is T-21 from 4/20, that was a big drop day with 4.7 million volume which means up to 2.9 million shares shorted at 62.2% SI that day. Its possible a large portion of those shares need to be covered tomorrow which is probably why GME was attempted to be dropped so hard today. I know were all waiting for the big spike day, me too. I am not sure we will see a big spike day until a big player gives up and covers or is actually margin called. As long as the price continues to increase that margin pressure will continue to mount. Hang in there!
NYSE:GMELong
by testmuffin13
1
Just because I'm early doesn't mean I'm wrong.Just tested the descending downtrend. A full break tomorrow should be confirmed shortly. A rejection would mean a retest at the end of next week. Some other interesting info. There is 4 million shares in way OTM puts expiring next week. These are opened under 30 dollars. These are rumored to allow hedge funds to not have to deliver FTDs right away. In theory these will be unable to be rolled again as some recent DTCC rules have put a stop to this practice. there is another 38 million shares in way OTM puts expiring July 7th, and another 15 or so million expiring Jan 2022. So possible short exposure of at least 60 million, on a stock with a 30 million float. Just some food for thought. Hang in there.
NYSE:GMELong
by testmuffin13
3
GME's day is fast approaching, will tomorrow pop off?Some good DD from Reddit. "GME closed $0.01 from previous day close - This has happened only two other days in the past January 12th with a delta of $0.01 and February 23rd with the exact same closing price as open. The next day after each, the price doubled." Lowest volume day since November 2020. I feel GME might be on a slightly longer timeline this time around. There are bigger things in motion. It could pop tomorrow, it could pop Friday. Personally I feel it could wait for Monday. Perhaps some big news or another big hedge gets margin called and GME gaps up. Who knows, its a weird time. Either way its not going down much, it will get bought very quickly. $200 is the trigger point. Good luck and hang in there.
NYSE:GMELong
by testmuffin13
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.
NYSE:GMELong
by Incogniteaux
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
NYSE:GME
by CryptoHedging
2
GME Back To NormalI wasn't going to get involved, but I'm only seeing naysayers to Gamestop at this absolute steal of a price. I personally had a Gamestop Rewards membership, played Kongregate all the time, and shopped there semi regularly prior to even really knowing about finances. I can't express how much I enjoy gamestop as a company, from a consumer standpoint. From a trader standpoint, I can't help but notice the very natural climb up to where it was just prior to that explosion and how it has steadied out for the most part on the other side. MACD looks to have recovered and RSI is fairly low. I think it's ready to continue that more natural climb. From my estimation, I think $250 is a fair value for this company for a lot of reasons. A lot of people I hear that are holding bought in that range, I think with only 69M shares a 17b market cap is nothing for a mogul like this, the new management is a power team just to name a few. Let alone being broadcast from Congress tomorrow. To the brass tax: 172 @ 50.23 If some kind of crazy thing happens tomorrow or in the next few days I'll take whatever crazy price is offered. I'm looking for 250 as a long term investment, maybe within 1.5-2 years. I've already marked it off as a loss otherwise.
NYSE:GMELong
by LemonKing