analysis GMEOn GME today as you see on the chart we have a breakout of the vwap indicator with force by a big candle with a large volume also we have a squeeze it's mean that we have a big probability of downtrend.
GME trade ideas
4 Scenarios for $GME#1: Run highs by mid may @ 200
#2: Reject 160, fill gap and hold support @ 135 by mid may
#3: Reject 160, fill gap and hold support @ 115 by mid may
#4: Dump prior to 160, fill gap and hold support @ 104 by mid may
Just my thoughts on where we go from here
GME - Break-out and Back-testGME appears to have successfully broken out of the long-term downtrend and also successfully back-tested this break-out. Looking for higher high on this run, surpassing the late March high of ~$200.
Sorry for the busy nature of the posted chart, but trying to show several previous break-outs and back-test - going back to late Jan 21 as examples. As you can see on the chart MOST of the break-outs and back-test have resulted in fairly significant upside moves. Also included are some failed break-outs and failed back-test.
The recent break-out has back tested the long-term trendline 5 times and held, bouncing up sharply (+7%) today. This also included a successful back-test of the smaller triangle break-out from the recent downturn off the high in late March. This break-out of a very long-term channel, successfully tested 5 times, is very bullish near term IMO.
Added long $165 strike calls w/ Apr 29th exp.
Not financial advice.
Overlap GME with BRN --- DRS HOLD DRS burn the houseOverlap of $GME with $BRN, if this goes as it goes, it proves that whole market is algorithm driven fraud
GME - ABC CorrectionGME appears to be setting up to complete an ABC corrective wave on the daily chart. Price appeared to breakout of the Wave B downtrend on Thursday of this past week. Looking for confirmation of the break-out tomorrow or by Tuesday. Price may want to double back-test the breakout, Wilder MA, and/or nearby fib...watching closely.
If confirmed, Wave C should be as long as Wave A and given the strong RSI/overall momentum, substantive MA supports, price &vol support at $150ish, and very oversold status of the stoch on the daily - I expect the Wave C to move up soon. Looking for a move upwards somewhere between the 1.272 fib and the 1.618 fib channels as plotted. Of course we could get another suspicious halt or some other fuckery but the indicators and chart sure looks like it will pop and complete the Wave C.
Will look to add to longs on breakout confirmation but if I add calls - will not go too far OTM. Last Nov the indicators had a similar set up and GME could only manage a double top formation. If that happens this time price will obviously only get to ~200ish. And if this isn't a ABC corrective wave and is instead a impulse wave or something else -price could go back down low 100s. But I just don't see it happening given all the reasons cited above. And if Wave C plays out as anticipated, and these corrective wave patterns tend to overshoot, but we will just have to see. The blatant unjustified BS halt on March 29th was eye opening to say the least...As always caution is warranted.
And I added fib channels back into to my GME chart because it is Easter and I like bright crayon colors, …and after seeing this Taste the Rainbow post on reddit: www.reddit.com It isn't unique to GME and I'm not sure if it has any relevance/validity. Thoughts?
Not financial advice.
Happy Easter!
Not gonna lie, it looks good.GME may surprise within mid October. Lets see if GME can keep its minus Beta through this Evergrande China spectacle. Also note that GME keeps finding new supports. Its been a while since we touched 170 and 180. Interesting stock to follow indeed, just having one share for the adventure is has been so worth it, I can recommend, but don't throw your savings after this, its just as probable that GME could collapse along everything else and prove everyone wrong as it goes to the moon and beyond. Always expect the unexpected and the worst outcomes and you will never be disappointed.
analysis GMEAs we see on the chart sellers after a breakout of the support line now they want to break the vwap indicator and confirmed their presence really. thanks.
sellers come As we see on the chart sellers come little by little..we have a breakout of the resistance line by a big candle and a large volume.
analysis on GMEOn GME we have a big probability of downtrend beacuse the sellers try to push the buyers away with this squeeze as you see on the chart and with a large volume. So attention.thanks
long on GME if anyone followed the chart idea earlier then you guys should have banked out of those support area. It bounced off the support area today also.
sellers want to comeattention sellers want to come may be we can have reversal trend because we have :
- Pullback
- spring effet
- breakout of the resistance line
attention possibility of reversal trend: Squeeze and pullback As we see on the chart we have a squeeze! If we are in an uptrend and if you see a candle with a long wick and a small body it's means that we have a big probability of a downtrend beacause sellers want to come and also we have a succession of many greens candles and in addition we have a pullback on the resistance line!! So attention!!!!
Summary on GMEWe are above the vwap indicator so that comforts us in our buy position. In addition the vwap is green!!! good uptrend.
Analysis on GME good uptrendAfter a breakout of the vwap indicator with force by a big candle with a large volume we have a good uptrend as you see on the chart..Buyers confirmed their presence.! If we are a downtrend and if you see a candle with a small body and a long wick it's means that we have a big probability of an uptrend.!!! See on the chart..!!! Thanks!
$GME 30m/D$GME still flagging and currently ranging, watch for the breakout, this could be huge if close over 150 or 200 for this week. Ooga Booga
long on GME The point where I took my position was right of the support area. I could see that it had the potential to jump off the support area.
GME 3/21/22GME
Easy short trade
Price in existing downtrend
Price entered sideways range between 96-126.
Price broke down from this range to start continuation of downtrend.
Price has pulled back to previous support looking to turn it into resistance. Price in area of value, my cue to enter trade
Entering trade short.
Entry: 97.00
Stop loss: 109.79
Target:
Initial target: 67.21, +30.71%, 2.33 RR ratio
Mid target: Trail 10ema
GME Possible gap fill I am bullish on GME for the long term. I am Bearish for the short term. I believe Going into May and May will not be nice to most stocks. I believe GME Does have cycles, and PRE-SPLIT GME will Break $250.
That being said, GME looks to be headed to break $140 on the down side. RSI is in a downtrend on the hourly. Before breaking $140 we should see a close under 144-45. Both might happen today, April 08, 2022.
Please note my 2 fib areas. On a short timeframe I am looking at a bounce or confirmation of the 161 (@$132). Mid term timeframe I can see another dip to $112 (the 382). Please remember when messing with fib levels, the fib bros love the .382, .5, and .618 for active trading. Then look to the 1.61 for rejection or conformations.
Around $125 is a gap to fill. Once this gap fills I am will be looking for legs up. First, will be closing under 144, 140, then 132. those are my support/ resistance level.
I will not go full bull until either the gap is filled, or we close above 163.
bullish on gamestop game stop is forming a very big zigzag correction in parallel channels. wave C has ended with an ending diagonal and bulls momentum has been seen although we have not broken the trend line to the upside. am still bullish until price action breaks the invalidation level.
GME - back-test holds - bounce timeGME back-tested the recent break-out of the descending wedge and held/bounced during the Thursday/Friday trading sessions last week. Bullish.
Price is also finding support on the 0.382 fib level here. This fib was important on the way down as GME held/bounced along it at least 3 times on the down wave, and this general price zone has been important for this equity post sneeze providing significant support & resistance. Firefly (AFL momentum /volatility indicator via Lazybear) is trending bullish (14/3 setting) and GMEs price has bounced up +10% or more at the +/-65 level on 3 prior runs - see indicator on chart. A little more AFL Firefly Info here: www.wisestocktrader.com
Confirmation of a near-term bottom is supported via RSI 2 Strategy Lower Indicator (Chris Moody) which hit the short term buy signal on the daily last Friday. More information on this indicator is found in the community scripts on TV, where CM describes it as follows: T he RSI-2 Strategy is designed to use on Daily Bars, however it is a short term trading strategy. The average length of time in a trade is just over 2 days. But the results CRUSH the general market averages . My take is historically this indicator has not been a slam dunk for GME but has accurately identified several near-term bottoms including the decisive March 14th low and thankfully helped convince me to add several shares then at ~$88.
Further, the 100-day MA is hovering around $140 level providing additional support for GME and is just below Friday's closing price of $146.xx.
Spec paly = buy OTM call(s) in $155/$160 range on a "typical" AM price mash that takes GME down near 100-day MA with a fairly near term/cheaper exp. date and sell call on the anticipated bounce OR just buy/hold shares...
Max pain currently listed as $145 for 4/14 and $132 on 4/22 - so much caution is warranted . maximum-pain.com
Not financial advice.
GME Tanking This WeekGME is tanking this week due to overbought condition shown by the RSI, MACD and Divergence and Accumulation indicators. Got a couple of put plays for this week and next week. GLHF
