$GME The Rise of The Players (Monthly)
NYSE:GME view on the monthly showing support/resistance test points. This goes along with the (weekly) chart posted yesterday.
GME trade ideas
GME appears to be ready to sell in JuneGME on the 4H chart appears to have topped out at the end of May after a decent rise of
30% after the May 2nd bottom. At present, the Hull Suite trend indicator is signaling a
reversal while the MACD zer0 lag indicator shows the lines have crossed under the horizontal
zero and the histogram has turned red. The RSI Indicator is showing a bearish divergence with
strength decreasing from 80 to 60. I see this as a short setup and will take a position of
put options with some long stock shares as risk management and hedging strategy. My target is
a 50% retracement of May's move up and a stop loss above the swing high. GME is still above
the POC line of the volume profile. Once it drops to that value, I expect bearish momentum
acceleration. Earnings are coming. If in profit before earnings, I will take off half the position
for the earnings and then expect GME to rise and stop out the remaining position or drop
quite a bit more.
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$GME Long - The Rise of The Players (weekly)
Short and Sweet, NYSE:GME technicals don't really work all that well cause everyone forgets NYSE:GME is not in here with investors; Investors are in here with NYSE:GME , and it runs the show.
With that said, its hard not to notice patterns, alongside potential predatory short hedge fund tactics, alongside old shorting algorithms, alongside activist investors also noticing something off and taking massive advantage of it during a time in technology where everyones ideas can be connected. it's an odd stock, because people paid attention to the oddities and pointed it out, giving a large upper hand to executives behind Gamestop having a massive following of truly invested shareholders who have a safe haven to expand their knowledge on markets.
So, Gamestop has become profitable recently, there is no stopping that train which is steamrolling through market share where Amazon and other competing Tech type companies could not. Gamestop has a massive following by which Gamestop made it safe for new retail investors, to invest and gain knowledge on the inner workings of the real (fake) stock market (this alone proves stocks are often at the hand of predatory short sellers who cellar box companies into the ground for competition like Amazon to take over their market share). Gamestop already has a nft store, and they have noticed a majority of their profit coming from collectibles, old games, and new trends with massive cash backing i.e. web3. Gamestop is providing a one stop shop / web3 integrated gaming launcher and atmosphere, where any games played on web3 can be played through their launcher, prioritizing network and data traffic, while getting rid of 34231 other launchers in the process, seamlessly onboarding web2 to web3. Gamestop has both online and brick and mortar presence with a tonne of cash set aside for purchasing, which they mention in their last filing that purchasing was on their agenda.
The stock itself is approaching an extremely familiar deep value territory similar to 2020 (as shown by the purple squares) . If you have paid attention to all the short players during that time frame, a majority of them, and many other investors went long in their large positions on Gamestop. Still means shorts have to close, but they've now likely hedged their shitty old bet, attempting to reduce their casualties for their actions.
Looks like your sweet little baby NYSE:GME is finally going to get the needed attention it deserves from its loving fanbase instead of its neglectful caretakers beforehand.
Lastly, If you were to scrape away all the bullshit over the last few years, learned to DRS your shares, constantly grew your knowledge on the market, you would understand that NYSE:GME is more than a squeeze, its more than a play, its bringing power back to the players.
(If you're curious, I set two trend lines all the way back from the start of the stock, one sits roughly at $15.60 where there were 3 tests breaking on the 3rd (DFV "Squeeze"), and one sits starting at $7.41 with the trend line matching the end of the wedge provided over the last 3ish years. the 15.60 line has been tested again 3 times since the initial pump, and bounced each time, with the last leading to consitent rise in price).
NFA, some fun lines, patterns, and opportunities looking like they're being taken advantage of by Gamestops team.
Gamestop, MEME Stocks, DRSGamestop...
Ok full disclosure..i absolutely made some money in the Gamestop mania of a couple years ago
I think evidence is overwhelming that abusive short selling practices are a cancer in our markets that needs to be weeded out (how many weeks has Gensler been on the job now lol?)
With that said GME is different that other so called meme stocks because of the lemming like madness that has ensued on Reddit concerning the Direct Registering (DRS) of GME stock
I'll let you ignite your GPT inquiries and Google searches (do people still do those? j/k..sorta) to better understand the thesis behind DRS and GME
With that said mania is mania and sentiment is sentiment...
LONG GMERICA ..oops sorry...I mean GME!
GMEInteresting spot for GME. Closing in on the $24 level that held as support in Q3/Q4 2022 then flipped to resistance. Also running into 61.8 retracement from the recent earnings gap up/sell off. Finally, the blue trend line dates back almost 2 years. No position for me currently. Earnings in 1.5 weeks.
GameStop ($GME): Potential Consolidation in mid-termGameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology. GameStop offers new and pre-owned gaming platforms from the major console and PC manufacturers, sells new and pre-owned gaming software for current and certain prior generation consoles, and offers a variety of in-game digital currency, digital downloadable content, and full-game downloads. The firm’s stores and ecommerce sites operate primarily under the names GameStop, EB Games, and Micromania. Its pop culture themed stores also sell collectibles, apparel, gadgets, electronics, toys, and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. The company also publishes Game Informer, a print and digital gaming publication. GameStop was founded by Daniel A. DeMatteo in 1996 and is headquartered in Grapevine, TX.
From a technical point of view, the trend is still bullish on weekly chart (Log Scale), but at the same time, a breakout of the previous low should trigger a bearish leg with a first Target around $9.70 area.
Trade with care!
Like if my analysis is useful.
Cheers!
GME: should have more downsideGME the king of meme stock is still on correction mode. On a log scale it doesn't look that bad really; specially if one compares with the lot of crypto charts. Anyhow, at this moment it looks like GME has some ways to go to complete the corrective wave 2. When price goes parabolic, it is quite natural to have a prolonged corrective phase. Price should come down to previous lower degree wave 3 to wave 4 area. Back in 21, I remember gambling 20 bucks into 200 in less than a week and then got stuck on Robinhood with put options when they stopped trading. Insane times... Hopefully, next time around, GME will graduate from a meme stock to something with actual fundamentals behind the company to start a long term uptrend (AKA cycle degree wave 3)...one can hope.
GME setting up for explosive rally? 😏a few short traps below extreme support zone recently, but bulls quickly took back control right away!
watch for break of trend resistance/24.36, potential rally to 30-36.5 after trigger! boost and follow if this helped.. thanks 💙
Good Entry Point for GameStop? Not Just YetGME STARTED TO TEST NEW LOWS: STRATEGY SHORT
Sue. This Market seems to be volatile and very difficult to trade. Scalping?Trend? Range Trading?.... Well ... I just look for volume areas, where the market is testing the forme false breakouts... The minor short term has just started.
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
20 Day Moving Average short
20 - 200 Day MACD Oscillator short
50 - 100 Day MACD Oscillator short
Support & Resistance
3rd Resistance Point 22.40
2nd Resistance Point 21.64
1st Resistance Point 21.03
Last Price 20.42
1st Support Level 19.66
2nd Support Level 18.90
3rd Support Level 18.29
Key Turning Points
52-Week High 47.99
37.17 Price Crosses 9-18 Day Moving Average
35.80 Price Crosses 9-40 Day Moving Average
35.54 61.8% Retracement from the 52 Week Low
33.31 Price Crosses 18-40 Day Moving Average
31.70 50% Retracement From 52 Week High/Low
14 Day RSI at 80% 30.32
27.86 38.2% Retracement From 52 Week Low
13-Week High 27.00
14 Day RSI at 70% 24.71
22.62 38.2% Retracement From 13 Week High
22.26 Price Crosses 18 Day Moving Average Stalls
21.47 14-3 Day Raw Stochastic at 80%
21.29 38.2% Retracement From 4 Week High
21.26 50% Retracement From 13 Week High/Low
21.18 3-10 Day MACD Oscillator Stalls
21.04 14-3 Day Raw Stochastic at 70%
20.67 50% Retracement From 4 Week High/Low
20.56 Price Crosses 40 Day Moving Average
20.21 14 Day RSI at 50%
20.19 14-3 Day Raw Stochastic at 50%
20.15 Price Crosses 18 Day Moving Average
20.05 38.2% Retracement From 4 Week Low
19.91 38.2% Retracement From 13 Week Low
Low 19.51 Low
19.34 14-3 Day Raw Stochastic at 30%
19.08 Price Crosses 9 Day Moving Average
19.00 Price Crosses 9 Day Moving Average Stalls
18.91 14-3 Day Raw Stochastic at 20%
17.81 14 Day %k Stochastic Stalls
17.25 Price Crosses 40 Day Moving Average Stalls
16.60 3-10-16 Day MACD Moving Average Stalls
$GMEThis trade has nothing to do with fundamentals, company transformation NFT bs or that moass stuff. This is me seeing a trend in the market and taking advantage of it.
Some of you know why i'm posting this here. For those who don't know, i've been trying to be some kind of prophet idiot and i've failed a lot in the past. I stopped posting for 6 months until i could better nail the market down based on certain data sets i've been analyzing for a very long time and i'm back here because i think i have managed to acomplish it.
My track record has been extremely shoddy at best for the past 2 years, but as of recent breakthroughs in understanding the data sets i have, i think i've found what i wanted.
I'm not going to mention dates or PT's. All i can say is that i figured it out in March and rode the March spike and that make things click for me. I had full ported and made avg 1300%
I'm in for ~2900 option contracts. I would get more but i'm restricted on how much exposure i can have.
That's all. You'll know how this trade has gone soon enough i guess.
2917 contracts
imgur.com
The GameStop Short SqueezeThe GameStop short squeeze that took place in January 2021 was a pivotal event in the history of financial markets, as it brought to light the power of social media and the complex dynamics between retail investors and institutional players.
This unprecedented event, fueled by a group of retail investors on the subreddit r/WallStreetBets, led to the rapid rise of GameStop's share price and significant losses for some hedge funds that had bet against the company.
The GameStop saga revealed underlying issues related to market manipulation, fairness, and the need for regulatory reform.
The Power of Social Media
The GameStop short squeeze highlighted the extraordinary impact of social media on financial markets. Reddit's r/WallStreetBets, an online community where members share investment ideas, became a powerful force that drove up the share price of GameStop and other heavily shorted stocks. These retail investors, driven by a combination of a desire for profit and a disdain for Wall Street's elite, banded together to challenge the status quo and fight against the hedge funds' dominance.
The internet played a significant role in enabling and facilitating this market event. Online platforms provided retail investors with easy access to information, while social media allowed them to communicate and coordinate their actions. This demonstrated how the internet has leveled the playing field between retail investors and institutional players, at least in terms of access to information and the ability to influence market movements.
Market Manipulation and Fairness
The GameStop short squeeze raised questions about market manipulation and the fairness of the market for all participants. Some critics argued that the actions of r/WallStreetBets members amounted to market manipulation, as they actively promoted GameStop stock with the intent to drive up the share price and force a short squeeze. However, others pointed out that hedge funds often engage in similar tactics to profit from their short positions and that the retail investors were merely employing the same strategies used by professional traders.
The controversy surrounding the trading platform Robinhood further fueled the debate on market fairness. Amidst the volatility, Robinhood and other platforms limited trading in GameStop and other volatile stocks, which sparked accusations of market manipulation and collusion with hedge funds. Critics argued that these restrictions unfairly disadvantaged retail investors, while Robinhood maintained that the limitations were necessary to manage risk and comply with regulatory requirements.
Regulatory Repercussions and Reforms
The GameStop short squeeze caught the attention of regulators and lawmakers, prompting Congressional hearings to address the situation and discuss potential reforms. During the hearings, various stakeholders, including representatives from trading platforms, hedge funds, and retail investors, provided testimony and perspectives on the events that transpired. The hearings underscored the need for regulatory reform to protect retail investors and ensure market fairness.
Some of the proposed reforms included increased transparency in short selling, restrictions on high-frequency trading, and measures to enhance market stability. Additionally, the hearings highlighted the need for better investor education to ensure that retail investors are aware of the risks associated with participating in such events.
Lessons Learned
While some retail investors profited from the GameStop surge, others were left holding the bag as the stock price eventually declined. The episode serves as a cautionary tale about the potential risks and rewards of participating in market events driven by social media and mass psychology. The short squeeze underscored the importance of understanding the fundamentals of investing, as well as the need for sound risk management practices.
Conclusion
The GameStop short squeeze will be remembered as a defining moment in financial history, as it not only showcased the power of social media and the internet in influencing financial markets, but also exposed the complex dynamics between retail investors and institutional players. The event has led to increased scrutiny of market practices, regulatory reform, and an ongoing debate about the fairness of the market for all participants. The repercussions of the GameStop saga are likely to shape future policy decisions and the evolution of the financial landscape.
The GameStop short squeeze has set a precedent for the role of social media and online communities in shaping financial markets. As the internet continues to democratize access to information and level the playing field for investors, it is essential for regulators, policymakers, and market participants to adapt to these changes and ensure a fair and stable financial environment. In doing so, they will not only protect the interests of all market participants but also foster trust and confidence in the markets for years to come.
GME gap fillingGME didn't moon (from previous post), clearly. Really bad option chain setup for any real runs still. IV looking tragic still, but we all know the market will be taking that 2nd leg down soon so I can't see GME going up in the near term.
GME is super illiquid still.
Market is taking a turn down finally.
My target is $17.5.
Current I have ITM CCs between 17.5 - 20, looking to exit when they go OTM or before 5/15.
Finally, hoping we see a pump into next earnings after this dip. Use the time to collect some additional capital from CCs, CSPs at bottom, etc.
We Hate The StockCould bounce at 20, could drop to 17-19. Probably drop to exactly 18.18 - very good year.
Who cares. We Hate The Stock.
GME $64.64 - BIG MOVES INCOMINGBasically, the big move zone is marked and it's right at 26.05-25.86
I would probably just keep buying off 26.10, as there is almost no question it's a big point, and you'll probably even catch the bounce back.
I would probably wait to short just incase it has a final pump to $85-95
Be cautious around $64-75
We need to see a pump into next mid next week and end of April into May
$GME Gartley/ Cypher variation and daily inside bar off 618 $GME I will be watching for daily Inside bar break high off 618, It would offer a low risk long w stop against low of mother bar (previous candle), aim top of pattern if this set up triggers, take some off at 1-1 and move stop and more off at 1-2 RR per Ib set up rules, (different set up the Hp's)
I prefer to wait for 786& 1.272 ext, this set up lacks solid structure so I would consider .50% to 1% max risk. Always wait for candle confirmation at trigger levels.
Remember the Gartley has 3 triggers, 786 often lines up with 1.272 & does in this case but watch the ABCD/Lightning level as wel, highlighted below the 786 fib.
Tp 1 stop is even always & take some off please, aim 2 & 3 next.
Stop below X, always.. Leave some room imo, always watch for reclaim of pattern with a pin bar.
Let me know if this chart helps your $GME analysis, please share your ideas for $GME in the comments.
Also with any of my plays, if indices tank the hit rate will plummet, act accordingly please.. No all in:( , trading is a business..
***Gartley's (main) and Cypher's trigger are both 786, so the dual pattern is just to explain I see both here, doesn't add any confluence imo...
GME 4hr - BB SqueezingWhen Bollinger Bands® (Yellow lines) are far apart, volatility is high. When they are close together, it is low. A Squeeze is triggered when volatility reaches a six-month low and is identified when Bollinger Bands® reach a six-month minimum distance apart. (www.investopedia.com)
Morningstar data is currently estimating NYSE:GME fair value at $48.42
Zacks' proprietary data indicates that GameStop Corp. is currently rated as a Zacks Rank 2 and we are expecting an above average return from the GME shares relative to the market in the next few months. In addition, GameStop Corp. has a VGM Score of A (this is a weighted average of the individual Style Scores which allow you to focus on the stocks that best fit your personal trading style). Valuation metrics show that GameStop Corp. may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of GME, demonstrate its potential to outperform the market. It currently has a Growth Score of A. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of B. (www.zacks.com)
GameStop has been cash flow positive for the last two quarters and delivered an average earnings surprise of 37.29% in the trailing four quarters.
GameStop Director Larry Cheng, who is paid in shares and does not receive a cash salary, used his own money to acquire 5,000 additional shares of the company's stock at market price. (www.thestreet.com)
A breakout from the BB squeeze to the upside ( HKEX:27 ) with high volume like on March 22nd may create a perfect cup & handle indicating another possible breakout to the upside ($32.80)
Not advice, only my opinion. Do your own due diligence.
GME 4 HOUR UPDATE ( TECHNICAL )For more updates, please follow my TradingView page, and if you find the content useful, kindly hit the "thumbs up" button to show your support. If you have any queries regarding trading, please feel free to send me a direct message on TradingView. Additionally, please share this content with your friends who may find it beneficial.
Please note that any trading updates provided here are for educational purposes only, and it is always advisable to conduct your own research before making any investment decisions. It is important to ensure that all conditions are met before following any trade plan suggested in this update.
GME Long IdeaJust my guess what will happen with gme.
we will see a downtrend to maybe 15$ when we dont hold the 20$. Then we get a 3rd bottom at 15$ wich means we are ready for a breakout and with good news on earnings in june we can go to 28$.
After that i guess we will trade in a channel between 23.90$ and 28$, in this time we set again hopefully bottoms in the 24$ area.
with good news september earnings we can breakout to 35$ or maybe higher, depents on news and earnings result.
Than its very likely that we see the 28$ again or at least we trade in the 28-35$ channel.
And hopefully we can than launch to 48$ again.
On the monthly timeframe we can see that the MACD is 4-5 months away from crossing again into the positive site. Thats also very bullish .
I holding $GME since January 2021 and thats just my guess without big big news like RC buying huge again or a huge cooperation.
With this Art its like a mini game, just for fun and maybe it will go as i say or we go further :)
Have a great day all!
-Vaentix
I heard you might need a GME chartI'll start working on BBBY, AMC, DOGE and SHIB because I'm sure we're also going to need those soon
I marked the relevant numbers I've been eyeing along with the relevant trends. The breakout is due to a "squeeze" possibly to the $38 mark tomorrow. The trend break on the day chart occurred on the 20th, and confirmed the same day upon close. I like the retracement to $27.
GOOD LUCK, fellow degens
GME moon soon? v2Follow up to:
Like I said, breakout looks decent. We are testing the top part of the wedge, today is T+2 from our huge volume day, 3/22, but could extend deliverables till Monday. Looking to see options close today and have T+2 settlement (Tues-Wed PM) cause another pump.
Additional thing here in this chart is the CV VWAP Indicator. Taken from an old script I found on TV that was broken.
Author:
Adapted from: Detecting the great short squeeze on Volkswagen, Godfrey, K. (2016, February 18).
Shows some interesting leading indicator prior to GME's Jan 2021 squart. We have not seen movements of this magnitude since then. As you can see the indicator generally stays within the -50 to 50 rage, but we were magnitudes larger on 3/22/2023, similar to 1/25/2021. There are some other notable moments such as 3/23/2022, where we just ran up, then the indicator spiked, then we ran up again through T+2+2.
No guarantees but...
- EPS was positive on earnings
- still no 10-K from GME (why?)
- Liquidity still extremely low
- 66m volume day
I have calls :)
GME moon soon?if earnings is good, and 2yr swaps are real and they expire end of march, then let's see
