TSLA and GME showing a very strong correlationI was just looking at both TSLA and GME on the hourly and low and behold, these charts are almost identical. Both inside falling wedges, and both with double bottoms. I'm unsure of the exact fundamentals on this one, but the charts do show that they are moving in unison. Keeping close eye on this.
GME trade ideas
Hourly Falling wedge on GMELooking at a small breakout of a pretty large falling wedge on GMEs hourly chart. If it can break these two supply zones at $16 and $17, It may re-test those $18.50 levels again. I would keep an eye on this one. Also if you zoom out a bit more you will notice a massive double bottom... On the flipside, we are also still inside the weekly wedge with a bit more space to play. GLTYA, and Happy Anniversary!
GME positive accumulation by institutionsMy Force Accumulation indicator is showing that institutions began massive shares-accumulation since the pop-off from $12 to $17s. Have a short-term target price of low $20s. However, based on the amount of accumulation, it's possible that institutions on the long side of the trade are prepping for an actual squeeze (possibly a gamma squeeze?) and we blow past resistance on the way up.
Short interest also seems to be increasing to make it look like GME falls when the SPY falls. In my opinion, they are trying to hide GME's launch within the general market's volatility. GME made a +50% this month, and media didn't bat an eye. One more +50% takeoff and we could be reaching close to the $30s.
Strap in boys!!
GME 50 EMA DefenseGME came alive in December and is currently retracing back to the 50 EMA. Things to consider, volume has been drying up since the initial move in late November, $15.41 is a strong level of support, but below that there's the gap all the way down to $13.55. January is usually a great month for this stock, but I'd love to see it defend the 50 EMA and the $15.41 level before going long. A bounce off support and a reclaim of the 50 EMA would be very bullish in my opinion
$GME - Finally, but...I have 7 variations of these showing the same spike for GME and many other names in the market whilst only 1 other chart (the one i typically use to detect runs) shows that this is going back to 11-12.
imgur.com
Based on the above screenshot being so nicely parabolic looking, i think we're looking at a price in the early or mid $20's for now. Will keep you updated if it looks like it's going higher.
GME looks good to buy as there's likely even more of a pump after this not only for GME but for many other names showing similar and even larger spikes (e.g ABSI and many others imgur.com)
Looks like i was a week early on trying to catch the initial spike of the run. I had MIL:1K of calls expiring on the 24'th of Nov knowing that it could've easily skipped that week and gone for the next one as it has done many times before and ther we go... it did just that.
Anyway, GME's IV is extremely high ever since my last post, so i'm not touching it neither in terms of options nor in terms of shares. I've chosen to get burnt on SPY puts instead with a decent amount of theta this time.
I have positions in SPY, ABSI and a bunch of other stocks that i won't mention as ya'll will crowd up in them and kill em.
Decided i'll give you this one since i'm out of this one due to high IV, so i'm throwing this one to the dogs. RC gave a beautiful signal on his tweet signifying there would be a run so i guess the data is confirmation (Or the opposite)
Be careful of the upcoming COST earnings after SPY's dividends next week, if the retailer pumps, the sector stocks e.g GME and others will pump to and will vice versa. COST could be the reason we pump or we might pump before COST earnings and then dump on it's earnings.
Waiting to see how this head and shoulder plays outShort Squeeze is unlikely to happen again
NYSE:GME
GameStop's Split Will Be a Stock Dividend
Dividend stock split isn't likely to affect short sellers. While shorts would be required to pay a cash dividend if GameStop issued one, a stock dividend works pretty much the same for all investors regardless of whether you're short or long. The effect is to increase the share count and lower the share price using the split ratio and there are no extra shares to pay back
Game stop at the 3 years low made a "Morning Star"?Hello to everyone! After 3 years of down trend Gamestop has shown to us in the month chart a bullish candle pattern.A Morning Star is going to be established after this year's end. In my opinion to reverse the down trend we will have to see the price to reach the level of 19$-19.20$. Is that possible? I think it is! My analysis says yes. My positions also. You all know how difficult is to analyze Gamestop cause the theory and the DD show us something different than the price action. The price is being depressed for a very long time. Even after the positive reports. That show us that some investors try hard to push the price as low as they can. Sometime they will have to buy back all this short positions,and I think this is the time. The Morning Star candle pattern is there. Now we all have to wait a dit to see an other big move up to the levels of the breakout. I opened new position at the price of 12,10$ and I'm waiting for the break out.
Ps. Excuse me for my poor English cause I'm Greek and my English is not that good.
GME Since 11/28GME ran up 11/28 and has formed a wedge(yellow trendlines) and possible triangle(purple line) within wedge. Possible triangle because the structure already broke and at the time of publish, the window of likely breakout(horizontal white lines) has passed.
Volume diminishing
Rejecting 13EMA and finding support on 48EMA at time of publish.
GME: $331 Triangle measured move on Log chartIt will take a long time but it is worth it. NYSE:GME rises because of excessively overweight short interest, nothing more. I don't know why GME has accrued such excessive short interest, but the TA on the chart says that move happens eventually, again, given that the short interest never got cleared out. The Monthly support level gives a good clear r/r trade.
GME back in actionI see GME as a great stock to swing trade and it has been trying to break the area it is currently on "where i have outlined with the blue box" for 4 days it may not seem as if its been in the same area that long because its a 15% range. which makes it great for day trading. If it closes above 16.80 I am targeting 19.50 if it comes back to 14.50 ni will then target 16.50 and hope for a break to 19
GME - Swing Long opportunityGME brokeout of the downward parallel channel on 28th Nov at 13.53.
After running high to 17.52 it has retraced and showing a bull flag on daily.
Closing the gap at 13.63 might launch the next bull run to 18.02 and then to 19.40 where it has major 200 DMA resistance.
Entry:13.63-13.89
Target: 18.02-19.40
Support: 12.61-11.88
GME GameStop Options Ahead of EarningsIf you haven`t sold GME before the previous earnings:
Then analyzing the options chain and the chart patterns of GME GameStop prior to the earnings report this week,
I would consider purchasing the 15usd strike price at the money Calls with
an expiration date of 2024-1-19,
for a premium of approximately $2.63.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.