GME trade ideas
GME is coming down sharpy in next few days. Arm your PUTSHeading towards a over bought situation. Currently setting at 78 in RSI index and given the low volume price rose sharply yesterday. Is this the sign of exhaustion? Looks like. History says every time the stock has gotten above 70 in RSI index it came crushing down. I will definitely buy a PUT at 125 level which is where I think the next support is going to be.
GME Price TargetsAnalysis done on hourly candles. The infamous Gamestop enjoyed its tenth consecutive day of a bullish rally to start off the week, placing its daily candle back above the 200 day moving average. This is a level that GME broke below in November of last year, and now that GME moved back above it you can use it as a support point. Going into tomorrow you’ll want the daily candle to open above the 200 day MA to be in the safest possible range. Looking at potential breakouts the stock will need to break the 196.00 resistance to potentially move to 200.00-205.00 next. Second price target is 220.00-225.00. This is a high risk position due to the nature of short squeeze plays.
Anybody else see this setup?Current price is testing the downwards trendline on the Daily. A breakout could mean explosive movement. Lets see if we can go above and maintain above $200 this week.
GME inside day after 100% rallyThe past a few days GME just had a crazy turnaround.
We got an inside day yesterday, if it's able to break to the upside,
I would very love to participate the momentum!
Let's see how it goes yo!
GME Wolfe Wave SetupGME Triggered a bullish wolfe wave entry at $82. It was one of many tickers that developed this setup during the recent pull back across the markets. However this Wolfe wave caught a 130% move. In addition to bull entry trigger from the script, the DBOL algorithm also switched out of a sell short and into a long position. Positioning in calls and staggering the expiration would not have been a bad idea.
GME rise is over ...... FOR NOW.
We're half way through the day and GME has completed it's compound Elliott wave.
As we move into the afternoon session what for the Kennys to start pushing price down.
I EXPECT price to fall. There's a gap ($123.14 - $130) on the daily that needs filling and it sits right at the 50% level. Hmmm, imagine that. So, $124 is easily going to happen. Wouldn't be surprised to see it hit $106 before climbing to the next milestone $224 - $230.
Game on.
GME 10 Consecutive Green Days - Go short or long? Or both?Price has broken a downtrend that has lasted 3 months, and has been showing 10 consecutive green days recently, breaking several months old resistances and daily 50 and 200 moving averages. GME may be back in play, however it's important to remember the role of bag-holders and relevance of GME.
It has been over a year since the initial pump & dump, and there're still many bag-holders that serve as resistance as shown in the volume, preventing future upward price movement due to selling for a smaller loss or to breakeven and in rare cases for a profit.
Price has been consolidating for a long time due to bag holding and lack of strong catalysts, as seen in the volume compared to the initial pump and dump, though recent volume is comparable to the 3rd rally that reached $344.66, so future price may reach these levels, but it's very unlikely price will go beyond and make new ATHs due to the consequences of FOMO (as seen on the chart) and bag holders looking to sell.
A common pattern seen in many pump & dumps, particularly in penny stocks, is a pattern that resembles an exponential decay graph, with occasional price spikes (rallies) that are weaker than the previous spike - this is due to bag holding creating heavy resistance, so long opportunities (potential short squeezes) are unlikely to be successful. The red zone encompassing the price range from $216 to $483 one should pay more attention for any reversals for shorting opportunities, such as any parabolic shorts, potential circuit breakers killing momentum, or from fake outs from the high levels the 2nd and 3rd rallies made. Make sure to have stop losses as losses when going short is limitless, and have take profits into strength or at any signs of pullbacks or towards or at demand zones.
Going long is riskier as one can be subject to FOMO due to the recent gains made in the past 10 days (+100%), but if one wants to do so, look for breakout entries on the daily or intraday timeframe, or entering when price pulls back into the VWAP or intraday MA or a demand zone, with stop losses below consolidation or the breakout level or below structural lows, taking profit as price heads towards or reaches resistance levels.
Strong reminder that FOMO and poor risk management can lead to huge losses, so one must make sure to use stop losses and risk what they can afford to lose. One can also take multiple attempts if initial entries fail, but one must know when to give up if unsuccessful - as there'll always be more opportunities to make money in the future. The aim of trading is to make money. It's not to be on the "right" side, such as to squeeze out hedge funds with large short positions, so don't get peer pressured into anything.
GME SqueezeHi - short and to the sweet. GME 50 EMA crossed below 200 EMA around 1/12/22. The last time the 50 EMA crossed above the 200 EMA was in 2020. Despite the short squeeze events, or whatever they were, GME has been in a positive direction for ~2 years. Right now we may be going through another short squeeze (you see it with AMC, TESLA, and a handful of other Wallstreet Bets stocks), but considering the recent EMA crossing, I believe that GME will start a downtrend as soon as the squeeze is complete. This is not financial advice, just an opinion. Please comment with thoughts. BTW - same thing goes for AMC. Not sure about Tesla, as it's an actual company with current applications.
GME Timeframe: Medium Term, Technical: Bullish <$200#GME (Exited: Trendline, Entered: Bullish)
#Daily
#Technical Analysis
#crevixtrader
Trailing GME long stops GME up close to 100% from initial entry. Trailing stops to lock in profits from this. Looks like it might keep running. Will re-assess trade plans if we rop to my trailing stop.
Investigating GME (I am super excited)I AM NOT A FINANCIAL ADVISOR. I passed the Series 6, but failed the SIE before I could take Series 63 hahahaha.
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Following current market cycles we seem to be having ourselves a bit of a melt up even with everything going on. We have also a lot of incoming news, rotation into beat up stocks, and a lot of hype built up on meme stocks. Could this be it?
To start, volume is finally picking up! Fees to borrow are crazy high and short #s are posted higher than usual. We are above the 200 Daily and Weekly averages. We are about to have a bullish MACD cross on the weekly. The fibs look setup for some bouncy movement. The list can go on and on...
Based off my gut , I am speculating that GME can fill the $290 range gap within the next few weeks. Although I think it is reasonable to assume a dip to test the lows is in order, I have been wrong in the past. Weekly MACD crosses usually have a dip for confirmation before continuing upwards. Therefore I am posting 3 possible scenarios I imagine the price action is headed.
Scenario 1 assumes rapid upside to fill gap with very minimal dips or consolidation. This would be wild!
Scenario 2 assumes a little dip and a little consolidation before push up towards filling the gap. I see this being the most realistic scenario given we could use a few days of consolidation and possible a dip as the market cools off from recent price action. Hoping this happens soon!
Scenario 3 assumes downside to at or around $58, which would scare out a lot of people and then gradual upside to fill gap with very minimal dips or consolidation. This scenario is a worst case scenario, and I imagine would only happen if the market has a fast sell off from recent highs dragging everything down.
Wherever the price goes from there idk yet! So we wait :)
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Please careful with any short term plays, you don't wanna be getting too caught up in premium with options especially if we drop. Also some additional wisdom is that sometimes its safest and smartest to hedge your positions just in case you don't get the timing right.
Not financial advice as always.
Please feel free to donate some BTC or ETH as always.
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GME watchafter a long periode of the price staying stable in general we notice a strong movement of the buyers . best move is to wait for a confirming green candle that an uptrend is about to start and go in as a buyer
GME with buy and sell indicatorBuy and sell indicator for GME
Please look at the other post for more information.
Monthly RSI is over sold
Daily chart shows bull reversal
GME playThere is pretty good support at 1-hour chart based on volume profile.
The candle is sitting on the resistance and support area in the daily chart.
there is a bull reversal and the monthly chart RSI is oversold so we can assume there will be some bull momentum over the next two weeks.
