Simple Price Analysis and where I expect price to go.My simple quick 10 minute analysis on where the stock is and what I believe can happen unless breaks under last bottom side of new trend.
GME trade ideas
GME | Support at trendline, FVG, Higher-low | Huge Cat Ear againI think the combination of all these technical indicators, the Citron Research closing their Shorts, Etoro disabling retail to short GME... Looks like a bullish storm from every perspective.
If we break resistance patterns at 34.50 door is open tot 64.50. If we break that one, 80-100 is open.
Be careful with reject of trendlines, especially if breaks bottom one.
GAMESTOP: The Party Is OverRemember when Elon used to tweet about Dogecoin, causing the entire market to react wildly? Market cycles repeat, and this one is no different. What we've learned is that driving up prices through tweets, Saturday Night Live appearances, or YouTube livestreams is unsustainable, and the positive effects are diminishing.
Yesterday, expectations for the livestreams were high. Despite multiple market halts, the disappointment was evident as GME's price retraced to its pre-pump level from the start of the week.
GME new bullish momentum LONGGME on a weekly chart has clear the chop zone on that indicator and is now above the POC
line of the long -term volume profile indicating that bullish momentum is greater than bearish
momentum. I will take a long trade here targeting the pivot highs of 2022 for three quarters
of the trade and the base of the high pivots of 2021 for the reminder. 21.7 below the POC
line will be the initial stop loss to be moved to break even upon a price rise of 10% from the
entry and then changed to a trailing loss of 10% upon another 10% price rise. I believe that
GME is heavily shorted; Accordingly, a short squeeze could add to the push higher.
Massive Divergence Hints at GME Short SqueezeWe see a massive hidden bullish divergence in the Cumulative Volume Delta for GME.
This means that short sellers have tried to push the price down by all means, but were unable to break below the previous low.
The logical consequence of this situation is an expected short squeeze.
Experience shows that the more pronounced the divergence, the stronger the short squeeze.
GME Bullish Momentum Expected: Key Buy/Sell Zones to WatchSummary: GameStop Corp. ( NYSE:GME ) is showing strong bullish momentum, and my analysis suggests an upward trend in the near term. Here's a detailed look at the key buy/sell zones to watch on the chart.Technical Analysis:Trend Analysis: The overall trend for NYSE:GME is bullish, supported by increasing volume and positive sentiment in the market.Support Levels: The key support levels to watch are at $22.50 and $24.00. These levels have historically shown strong buying interest.Resistance Levels: The critical resistance zones are at $27.50 and $30.00. Breaking these levels could lead to a significant upward move.Moving Averages: The 50-day and 200-day moving averages are showing a bullish crossover, indicating a potential buy signal.RSI: The Relative Strength Index (RSI) is currently at 60, suggesting there is still room for growth before reaching overbought territory.
Buy zone : $26-$30
Sell zone $52-$60
GME Gamestop - Diamond bottom forming - mega cat ear? GameStop may be forming a "diamond bottom" pattern, signaling a potential bullish reversal. Traders are also buzzing about a possible "mega cat ear" pattern. Keep an eye on those charts!
GME support at 24 - FVG. Trendline support, Cat EarIt looks like the drop of yesterday formed an amazing first ear. Also forming support at trendline and 24-25 FVG.
Bull pennant into next weekWe were able to get back into the pennant today and it just bounced off the bottom line. Up we go!
This demand level may be the last stop for GMEI recently seen an article about Game Stop being at its lowest level of the year so i decided to glance at the technicals. From a Technical standpoint it looks pretty good. Here are a few reasons why i think this:
1) Price is approaching a nicely unmitigated demand zone.
2) The demand zone created a great deal of imbalance
3) There is liquidity above the demand zone.
4) There is divergence playing out.
When price approaches the demand i may look for some calls depending on how momentum shifts on the lower time frams.
Gamestop WatchGME is the most talked about name in the market at the moment with the roaring kitty saga. We have it on high watch. Our premium indicator nailed the initial move and gave two blue continuation bars which captured the last move.
Although we believe the "squeeze" is likely through, we will be watching for another continuation setup to punt over the next week.
Possible Turning Point GMEWaiting on Indicator to flip long. Will probably be dependent on the FED tomorrow but willing to take a chance here. Stop Loss set at 19.75 NYSE:GME
The Epic GameStop Saga: How Retail Traders Toppled Hedge FundsThe story of GameStop (GME) and Wall Street Bets is one for the history books. 🏆 This tale of David vs. Goliath saw everyday retail traders take on some of the most powerful hedge funds on Wall Street, and win—at least for a while. Let's dive into this rollercoaster of financial drama, where memes, emojis, and Reddit posts became weapons of choice.
The Rise of the Retail Trader 💪
It all started on a subreddit called Wall Street Bets (WSB), where a group of retail traders noticed something peculiar about GameStop. Hedge funds like Melvin Capital were heavily shorting the stock, betting that its price would fall. But the WSB community saw an opportunity. By banding together, they could drive up the stock price, forcing the hedge funds to buy back shares at higher prices to cover their shorts—a process known as short covering.
Short Covering Explained 🧠
For the uninitiated, short covering happens when traders who have shorted a stock (sold it hoping to buy it back at a lower price) must buy back shares as the price rises, to limit their losses. This buying pressure can further drive up the stock price, creating a feedback loop of rising prices and more buying.
The Showdown 🥊
In January 2021, the WSB crowd launched their coordinated buying spree, and GameStop's stock price skyrocketed from around $20 to a peak of $483. Hedge funds were caught off guard. Melvin Capital, one of the primary short-sellers, faced massive losses. Enter Citadel, a large hedge fund, which stepped in to bail out Melvin Capital with a hefty cash infusion. But the damage was done. Retail traders had won a significant battle, showcasing their power to move markets.
Fast Forward to Today ⏩
Fast forward to today, and the GameStop frenzy has simmered down, but the stock's legacy remains. Currently, the sentiment around GameStop is neutral. The put/call ratio, a measure of market sentiment, indicates that traders are neither overwhelmingly bullish nor bearish. They're getting out of the stock, which reflects a stabilizing interest.
GameStop's price has recently dipped below a monthly supply zone of $40 per share, signaling a critical point in its trading activity. However, there's significant buying interest at around $10 per share. This suggests that if the stock drops to this level, we might see renewed buying activity.
What’s Next? 📅
Looking ahead, GameStop's earnings report on June 11th will be crucial. Investors and traders alike will be watching closely to see how the company is performing financially. This report could either stabilize the stock or create new waves of volatility.
The Legacy 🌟
The GameStop saga is more than just a story about stock prices. It's about the power of the collective, the impact of social media on financial markets, and the democratization of trading. Retail traders showed that they could band together and challenge the titans of Wall Street. And they did it with a sense of humor, using memes and emojis to rally the troops.
So, what's the takeaway? Whether you're a retail trader or a hedge fund manager, the GameStop episode is a reminder that in the stock market, anything can happen. And sometimes, the little guys can win big. 🚀💥
Let him cook. Let him cook.
Who wouldn't lend a hand to humble the billionaires who screw retail traders.
About to find A New Moonwe started the accumulation phase. As they continue to hold the float actually gets smaller. THIS COULD BE HUGE!
GME is moving again?What should I do with GME? I thought the movie was pretty good. I think there is room to the upside for short term gain. I'm not convinced on a long term position. That's how I feel at the moment. The landscape is always changing. I'm not in a position yet. I am itching to get in one though.
$GME 4Hour Chart Bearish case: NYSE:GME 4Hour Chart Bearish case:
- 9/21 EMA cross down(9EMA-green, 21EMA-red)
-Price made new lower low
-Price below Anchored VWAP (Black Color)
*If price stay below resistance level market in RED then there is a high probability of price going to $20 next
Long $GME on increased volumeLong gamestop at a price of $20.31 Based on trading volume with demand at the $20.20 level, looking to take out areas of supply as we recently retested $63.92 earlier this week. Next level would be the $86.17 followed by ATH of $120.75.
Only trade what you can afford to lose! The company is not profitable but has a robust balance sheet and cash on hand.
My 4H $GME Chart Showing Key LevelsThis is being posted in addition to my weekly chart so its easier to see. Original weekly chart can be found in "related ideas" underneath this description.
Expect the next 2 weeks to be extremely volatile due to several upcoming events:
Earnings Release: June 11th
Annual General Meeting: June 13th
Contract Expiry: Over 140,000 call contracts expiring on June 21st
Price Prediction
Short-term Decline: The price may fall further to between $25.25 and $23.07 to fill the gap created on June 3rd, represented by the blue demand zone.
Upside Potential: Following this, I expect a price run-up past $67.50 and $80 due to the exhaustion of selling orders over the past 4 weeks. Watch for a test of the all-time high (ATH) of $127.01.
Cheers!
Bull Put Spread on $GMEGME
Bull Put Spread
Put legs: -30 +24.5
Expiry: Jul 12th
Premium: $ 1,059.00
Contracts: 3
Fees: $ 6.84
Post Fees: $ 1,052.16
Capital Allocated: $ 597.84
Max Gain on position: 175.99%
Will aim to close early, around 50% of the $1052 or close to it, this is a directional play, there is a live stream by RoaringKitty at 11am CST today.
I chose my strikes based on the vol profile indicator.
Bull Put spread on $GEMGME
Bull Call Spread
Net Debit
Lets +30 -51
Expiry: Jun 14th
Max Gain: $ 1,468.00
Cost debit with fees: $334.28
439% gain on position, I have to hold this the full 7 days.
Top 3 Tips on How to Avoid FOMO Trading (Fear of Missing Out)Here you are, casually sipping your coffee and watching the clock go by while you wait for the market to open so you can buy a few shares of your new stock pick. Remember, you chose that one after deep research and careful planning.
And then “ WHAM! ” Twitter notifications start flying. GameStop (ticker: GME ) is once again rocketing to the moon after some livestream on YouTube unleashes a huge buying spree. “MUST. GET. IN.” — you, probably, after you get your emotions shaken and stirred by something called FOMO.
🔔 What’s FOMO?
FOMO is an abbreviation for Fear Of Missing Out. This little four-word phrase can throw your investment rationale, thesis and analysis out the window so it could settle in your prefrontal cortex where your brain goes to make life decisions.
In this blog, we’ll talk about that little gremlin FOMO and what steps you can take to prevent it from overriding your emotions and decisions. And for the sake of your time, we’ll keep it short. Let’s go.
💡 Tip 1: Plan Your Trade
Plan your trade in advance and don’t sink into the moment. Knowing your entry, take profit and stop loss before you move into your position will eliminate the urge to rush in when things get hot.
🔴 Problem: News Releases, Earnings Reports
We all know how intense markets can get when there are news reports coming out. Company data such as earnings reports or some of America's top economic events , such as the widely anticipated nonfarm payrolls , or the Federal Reserve’s market-moving interest rate decisions can spur volatility and cause trading instruments to seesaw and fluctuate in both directions. And because these events are well-known in advance — the Fed only meets eight times a year — these moments can be an attractive invitation to make a profit.
🟢 Solution:
Plan your trade and understand that news reports and earnings releases are a double-edge sword and even if the data supports a certain narrative, i.e. lower inflation = higher gold prices, this isn’t always the case. Take a step back, regulate your breathing and keep your emotions in check. Wait it out until the noise tones down.
💡 Tip 2: Avoid Revenge Trading
Revenge trading is the trading you do when you want to get back at the market after getting smacked in the face with a loss. Next time you stare at a losing position, notice if you feel the urge to jump right back in and make up what you lost. That's revenge trading.
🔴 Problem: Losses and Missed Opportunities
Taking a beating from Mr. Market can be a painful experience. Yet, not taking the loss the right way can lead to even more pain and wiped out funds. Whenever you’re staring at a losing position, you might be tempted to sell out and jump right back in an effort to make back what you lost.
🟢 Solution:
Avoid revenge trading. Recognize that pesky feeling, which — whenever you lose money on a trade — makes you want to pare back your losses with one quick trade. That quick trade could be a) more aggressive (for more potential profit), and b) cost you even more money because you’ve been impatient.
💡 Tip 3: Don’t Chase the Pump
Any pump usually has a strong pull, because it makes gains look easy. All you need to do is catch the speed train (or get onboard the rocket ship) and, boom, you're in profit. Although, it's not as easy as it looks.
🔴 Problem: Pump and Dump Schemes
Quite often we see some little-known stock or a cryptocurrency with a small market capitalization perform some outstanding moves. It may shoot higher by 100% or more and that may trigger some FOMO in you, causing you to panic-buy and then watch your investment evaporate like snow in water.
🟢 Solution:
Don’t chase the pump. It’s simple. A pump can play with your decision-making capabilities and cause you to make irrational choices out of the desire to join the volatility train. But many of those pumps end up as dumps. Pump and dump schemes are real — the gains go as quickly as they came and you don’t want any of that.
Final Considerations
Forming a deep emotional connection with the market isn’t a bad thing. This place is your passion and you’ve chosen to participate in it, together with its ups and down. What you should pay attention to is how you react to its changing moods and whether you behave logically or illogically to get what you want.
Acting illogically can lead you to trip up so you want to distinguish that. Use your emotions to get rational inspiration and excitement about what you want to accomplish.
📣 Your Turn!
Have you ever tripped up over a FOMO trade that hurt your account? What was your trigger and subsequent result? Let us know in the comment section below!
GME Demand Bounce Been doing some GME analysis lately and I'm long. I have a smallish position and plan to let it ride until 6/21, it'll work it won't. What I want to see for bulls is for Game to hold this $20 area where we have demand and horizontal support. If GME gives up this level, I think it could be a while before it regains some strength, unless.of course there is some sort of new catalyst or news event.
I'm fairly concerned about my position due to the second offering GME announced Friday morning, which was once again right in the middle of a squeeze, just as it seemed it may actually get the momentum to start heading back towards ATH. Both times have been big failures and I don't see why this one would be any different,.but this is a top watch for me in the market this week along with all my other bearish plans and setups. GME and meme stocks could also potentially be one of the catalysts for a market crash and I'll have more on that later.
I guess I should also mention that DFV's stream was mostly a nothing burger and a sell the news event, which is what I expected. I think the folks who keep building up these events as if it's suddenly going to trigger MOASS based on the idea DFV will exercise his calls is.just silly. But based on his latest tweet, it appears he's going silent again and we'll have to wait and see if and when we hear from him again. Very interesting stuff all over the market at the moment.
