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GME trade ideas

GAMESTOP Is today's jump enough to stop the bearish trend?GameStop (GME) has had a huge price opening jump today that hit the 1D MA200 (orange trend-line) for the first time since October 31 2022. That pump was short-lived and the price quickly resumed the bearish trend within the Channel Down pattern that it has been trading in since November 03 2021. Basically the stock has been inside a multi-year correction since the January 28 2021 historic high. So is today's rebound enough to stop this bearish trend. The answer from a technical perspective is easy: no unless the price breaks above the previous Lower High of the Channel Down, which is considerably higher at $48.00. Not to mention the the 1D RSI broke above the 70.00 overbought barrier, and this has been a major sell signal inside this +2 year Channel Down. The most it has risen these 2 years is +157.50% but that was when the RSI was already overbought. GME is a dangerous buy on the current levels. Either wait for a price closer to the Channel's bottom or above 48.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:GME
by TradingShot
GameStop (GME) hitting macro technical range In this video I go trough some very very generalised/simplified overview of GameStop financials and the stock chart. I'm taking note of things that look good and things that don't from my personal perspective (hey! everyone has their own opinion). As you have both going on but overall at this present moment while information doesn't change significantly I could say I'm very bearish on this stock but in the short term there likely a possible corrective move to get everyone hyped. Tune in for the video for some entertainment and my general market comment on this stock.
NYSE:GME
by D7R
3
$GME - UpdateFor those overoptimistic about yesterday's post market news on $GME, I've brought you a sobering chart today. I count at least 4 attempted breakouts above the elephant in the room, that downward sloping yellow trend line, which has been neatly respected by the price. None of these attempts resulted in a long term break of structure. Does that mean the line won't break? The price is trading against a long term resistance area in this market, that has been rendered support, after the infamous happenings back in the beginning of 2021. Right below that threshold lies the humble demand area from where that gargantuan bullish candle exploded in January 2021. What does this mean? Although different timeframes, different strategies allow for virtually limitless ways to make money in the markets ... Being bearish here won't make your pursuit easy. What then? For the bulls out there ... how about waiting for a confirmed close above this trendline ... in this timeframe? Cheers Tenacious Tribe - Back Tested Trading Strategies & Quantitative Studies
NYSE:GMELong
by ruben_rodrigues
$GME: Bullish Deep Gartley Trade Idea Remains ValidEarlier, GME hit the Stoploss level of the Previous Chart Idea, but it did not make a new low and has since gone back to the 0.886 PCZ level and is making a Second Level of MACD Bullish Divergence as a result. Due to these factors I think that this Bullish trade Idea is still alive and upon zooming out I can see that this could be a more Macro Double Bottom that could set us up for a Bullish Dragon Breakout in the coming weeks. If we break above the trend line we could see a rally to the 0.618 retracement, which would be a doubling of the current price.
NYSE:GMELong
by RizeSenpai
GME Headed for Double Bottom Reversal as Market SlidesRegardless of what /r/Superstonk says, GME is headed for a Technical Double Bottom, which will lead to a "go-up". There's a bunch of other factors (go read what Superstonk has to say) that are probably going to make this stock rocket, but technically it should go up at this point. We may see it play up to nearly 30$ by the end of May. At this price point of about 15, you can double your money in two months. Keep an eye on it. I personally just bought in I'm so confident.
NYSE:GMELong
by tankingtomawar