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GAMESTOP CORPORATION

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GME trade ideas

Time to switch from Momentum trading to mean reversion in GMENYSE:GME The latest Short Interest data has been updated recently by FINRA. Keep in mind that SI data always lags by two weeks as they are introduced. The SI data with a settlement date of May 31 shows that SI has dropped from 22% to 15%. This is a massive drop as it is the lowest number of shares short in nearly 2 years. This also explains (in hindsight) why the gap up on the next trading day (June 3rd) immediately fizzled as there was not as much juice to support the run as before. See chart image below for SI and other financials. We are now in dicey territory. GME is not a small cap stock; it's a $9.5B Market Cap. Investors reacted differently to it this time than they did the last time Redditors took this stock to the moon. Investors quickly abandoned their shorts. They are much less stubborn this time around than last time and certainly don't want the headlines. Thus I would argue that looking for momentum breakouts maybe reckless here. There is a good chance that this stock is done for and will peter-out back to it's normal downtrend. But whether it does or it doesn't, a mean-reversion trade is in order. Either as a dead cat bounce or as a setup to shake out unserious hands, lure in shorts and gather enough momentum for the next bullish attempt. Blue arrow at $21.54 shows minor resistance (TA shown on black & white chart) but I think we will get a flush down to the cyan arrow at $18.06. I will be looking to buy it there. Anyway, that's what I am doing with my money, you do you. Good luck.
NYSE:GMELong
by ConvictionTrades
2
GME - A local Higher High is LikelyHello all, just a man following those pennies. The structure I am seeing on GME hints at a likely higher low to form Thursday (6/13/24). I do believe that there's a significant likelihood we see a bullish sweep, and looking at this overall structure I do believe a higher local high (above $34) will be made. However, the long-term picture of this, suggests a likely fall in price after this next move. Will be watching to see how this pans out, but I plan on taking a low risk trade in the Morning given pre-market isn't a slaughter below $22.85 range. Who knows, sometimes GME moves so fast and with such volatility we could gap up with insane momentum within the first few trading hours leaving me unable to take this trade. Even if I were to go short via puts/stock on the rise, the risk and gamma squeeze would leave me disinterested. Let's see how tomorrow opens. The pennies suggest a higher low. have a good one :)
NYSE:GME
by ThePennyMan
4
GMEideas about the movement of the GME stock for the year 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
NYSE:GME
by vip3rgr
GME - Week of June 17, 2024NYSE:GME - Thesis - Management is Ryan Cohen; the buffet approach - With over $4 billion in cash, Game Stop has a better Price-to-Cash valuation than plenty of companies inside NQ. - RK comes back after a three year hiatus, with transparency of his portfolio. - Market structure is forming a moon landing to $120+ per share. - And with a cultist group of degenerates (like myself); Hedgies Getting Wedgies - Dumb Money 2 will be made. Despite all of this.... I can be totally wrong & management could rug pull everyone and it goes straight down to zero. Nothing I post is financial advice nor investment advice.... I simply like this stock!
NYSE:GMELong
by AnthonyGarciaEth
I look at this chart and feel bullishMy gut instinct is to long here (just from the pure chart itself). There is nothing fundamental about this idea, aside from the fact that GME has a market cap of 10 billion, which is low enough to be pumped. The overall liquidity cycle reverted and is rising. In this stage of the cycle, memecoins and stocks rising just from belief / attention alone is very possible, in fact it is more likely to happen than not. "Tap into the heart and soul of the increasingly desperate, degenerate, jobless, lonely, addicted - generation moonshot" All it takes is a spark to light the fuse.
NYSE:GMELong
by r90000
$GME AlgoTradeAlert Momentum Algorithm IndicatorNYSE:GME AlgoTradeAlert Momentum Algorithm Indicator We never short growth stocks or stocks with a lot of volatility. If we were short, we would have covered our short position and gone long. Instead, our strategy is to wait for the large green dot to enter a long position. On June 10, we got that large green dot and we entered into a long position. Yesterday at 13:20, we exited our long position with a fantastic profit. Today we are going to repeat the process and do it all over again. Wait for our algorithm to give us a buy alert to go long.
NYSE:GMELong
by AlgoTradeAlert
4