GME TrendyWe are seeing a gme attempt a cup and handle formation. Up and down movement in this zone looking to break up once it breaks 30. End of the month and early August are going to print.
GME trade ideas
GME: a QUARTERLY THEORY thorough analysis (ATH will be reached)Here is the short explanation about the Quarterly Theory.
It divides up a full session into 4 different parts. This can be for daily, weekly, monthly, year, 4 yearly and even longer sessions. The crux of the important part is knowing where to enter. The opening price between quarters 1 and 2 have major significance. If a long position is to be entered, it is always UNDER the opening price between quarters 1 and 2. If a short position is to be entered, it is always OVER the opening price between quarters 1 and 2.
There are also basic price action theories that are required to be adhered to, to be able to enter into a position. Two lows or highs broken by significant price action will trigger an entry below or above the 1st and 2nd quarter opening price.
I have done most of the work for the readers and quartered the price action of GME into 4 yearly slots.... Each quarter resembles a specific type of price action based on what the first quarter does.
Here are the descriptions of each quarter:
X - This quarter is either a reversal or a continuation. Typically trades should not be had in this period. This can be generally identified by price action in this quarter. Trades are typically not entered in a quarter that is defined as "X". This will either always be the FIRST quarter or the LAST of the 4 quarters.
A - Accumulation: Accumulation typically represents itself as consolidative price action. Price tends to stay in a range. If Accumulation happens in the first quarter, it is not advisable to take a trade from this quarter. If Accumulation happens in the second quarter, trades can be taken.
M - Manipulation: Manipulation price action will typically take out a high or a low from either accumulation or the X quarter. Trades can be taken from this quarter.
D - Distribution: The price action will vary in this stage, but will sometimes act as a reversal from the Manipulation period or a continuation of it. This is typically when big players are earning their profits. Price action can be mixed in this quarter, but it is always either the 3rd or 4th quarter, depending on how the quarter started.
There are 2 different types of quarterly variations. XAMD or AMDX.
The first quarter is ALWAYS either an "X" or "A", and from there the pattern can typically be recognized.
So let's talk a little bit about the current status of GME using the quarterly theory.
As you can see on the chart, GME started a new quarterly cycle in 2019. The first of the 4 year period quarters was a reversal, so we know that the first quarter in the next 16 year cycle from 2019 to 2023 was an "X", as characterized by price action.
From 2023 to 2027, price action will be in the "A" cycle (Accumulation). In this 4 year cycle, we can expect the price to be choppy and relatively rangebound as price consolidates, and market makers start entering into positions.
So the question is: what kind of positions are these market makers entering?
No doubt there has been a major short squeeze starting in 2020. Most of these big players are either offloading their short positions here, and/or have started accumulating for another upside move so they can get into the "action" that they missed. Lets take a closer look:
In this zoomed in chart, we can see where price reacted from a POI, cleared at least 2 highs with significant ease, and immediately came back under the 2nd Quarter opening price, which we have talked about earlier is a significant entry point. Now that doesn't mean that you were too late on the trigger to enter. I have a feeling that we did not hit a POI when price jumped down below the 2nd QT open price, so the chances are still good for us to get into a position using a POI that is BELOW that 2nd QT opening price (to long from).
Keep in mind, this price action will be consolidative in nature for at least another 2-3 YEARS at least, so if you're going into GME, don't expect to hit the moon without having to wait for the slingshot to speed up for the next couple of years.
This general area is where smart money is buying. And yes, it is expected that the All Time High (ATH) above $120 will be cleared for liquidity. Don't be greedy... If you plan to hold for long, don't start thinking that this could go to like $500.... Could it? Sure... But it could also just double top immediately at the $120.75 price and immediately sink. That could be the manipulation quarter unfolding.
Yes, GME is a LONGTERM buy.
Don’t panic.All we did was move down to the 200MA 1HR this is typical of ANY stock……
Chill this isn’t a waterfall and not a crash
We’re probably going to see a bounce as this is the accumulation stage. The only ones who got destroyed were same or next day options traders. My recommend is to buy the stock only as you can cut losses or take profits if and when needed
Clear heads always prevail
Diamond hands
*As a kudos to Roaring kitty that guy is very honest posting his losses like that live stream to the world
Downward Channel GMEDownward channel for GME with additional data from fib extension.
Entry price: somewhere near $21-$22.50
If we can break resistance at $24.01 (38.20%) fib we can see movement upwards, if not i can see it dropping past $23.37 (23.60%) fib and going into the "buy the dip zone" at $22.32 (0%) fib.
GameStop ($GME) Technical Analysis: A Harmonious Bullish Journey### GameStop ( NYSE:GME ) Technical Analysis: A Harmonious Bullish Journey
#### Current Financial Data
As of the latest market close, GameStop Corp. (NYSE: GME) is trading at $24.43 , reflecting a change of 1.75% from the previous trading session. The stock has a market capitalization of $8.58 billion, with a 52-week range of $9.95 to $64.83. The average 5 day trading volume stands at 12,258,820 shares.
#### Long-Term Harmonic Bat Pattern
Since reaching an all-time high (ATH) on May 14, GameStop's stock has been slowly carving out a harmonic bat pattern on larger timeframes. This pattern, known for its predictive power, suggests a potential bullish reversal. The bat pattern is characterized by its specific Fibonacci retracement levels, which GME has been respecting, indicating a well-structured technical setup.
#### Falling Wedge Formation
Around July 1, a falling wedge formation was observed, typically a bullish continuation pattern. This formation indicated a consolidation phase within a broader uptrend, providing a precursor to a potential breakout. True to form, GME began to show signs of upward movement following this pattern, marking the beginning of a new bullish phase.
#### Price Movement and Momentum
Post- July 1 , GME saw a price retraction to the $23.37 mark. This pullback was instrumental in building bullish momentum as traders accumulated positions, anticipating the next leg of the harmonic pattern. The slow price retraction allowed for the formation of a solid support base, critical for the upcoming bullish journey.
#### Resistance and Targets
Currently, GME is approaching a significant resistance level at $31.69. Breaking through this level is crucial for further bullish progression. Upon successfully overcoming this resistance, the first target stands at $37.78 . This target is strategically placed just before another anticipated retraction around the $32 mark, providing a healthy correction and consolidation phase before the next bullish surge.
The second target is set at $53.44 . Achieving this target would mark a significant milestone in GME's bullish journey, completing the second leg of the harmonic bat pattern. This level aligns with the 161.8% Fibonacci extension from the initial price move, reinforcing its technical significance.
#### Technical Indicators
Several technical indicators support the bullish outlook for GME:
.**Relative Strength Index (RSI)**: The RSI is currently trending upwards, suggesting increasing buying pressure.
**Moving Averages (MA)**: The 50-day MA is poised to cross above the 200-day MA, forming a 'Golden Cross', typically a bullish signal.
**Volume**: Trading volume has been increasing, confirming the bullish momentum as more traders participate in the rally.
#### Conclusion
GameStop ( NYSE:GME ) is currently in a technically significant phase, with multiple bullish indicators aligning to suggest further upward potential. The formation of a harmonic bat pattern, coupled with the recent falling wedge breakout and subsequent price movements, sets the stage for a bullish continuation. Traders should watch the key resistance level at $31.69 closely, as breaking this would open the path towards the first target at $37.78 and potentially the second target at $53.44.
As always, while the technical indicators provide a strong case for a bullish outlook, traders should remain vigilant of market conditions and news that could impact the stock's performance. Happy trading!
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*Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.*
GME Bear FlagI hate to do it, but I have to post a bearish idea for GME. It has been holding the $23.50 area pretty well, but has a bear flag after a pretty significant drop from up around $30. Not only is this a bearish chart in my mind, but GME struggles heavily during broader market down turns. There are times where it inverses the market and it's a dangerous short. However, as long as there is no additional squeeze hype or news that happens randomly, GME should fall quite a bit with ES and NQ.
CHWY has also broken below a major uptrend it started back with all of the DFV hype. These things fall hard when the show is over. It's possible we haven't seen the last of GME this year though, so not my top short. Will use small size for now.
$GME Idea #Bullish #PennantJust some thoughts on $GME... Thats a nice gap fill n hold for now... Lotta hype, no positions... Do think theres some clear support and resistance forming a pennant... end has shakeout before break out...
Watching, waiting, commiserating... Say it ain't so
GameStop Corporation _ Only _ short _ Execution. GameStop Corporation _ Only _ short _ Execution.
Please note: Trade with high risk _ High Reward Asset Class you must be very skill and require lot of attention in numbers.
Short execution prices:
$25.98
$26.51
$26.76
$27.29
$GME the new hedge?I've analyzed the GameStop stock NYSE:GME and S&P 500 AMEX:SPY data from 2018 to 2022 to identify instances where GameStop's stock price rose significantly while the S&P 500 fell.
**Event 1:** January 28, 2021 - February 8, 2021
* GameStop's stock price rose by 73.5% from $18.92 to $32.97
* S&P 500 fell by 2.3% from 3,875 to 3,785
Event 2:** March 24, 2021 - April 2, 2021
* GameStop's stock price rose by 41.1% from $60.65 to $85.53
* S&P 500 fell by 3.9% from 4,196 to 4,034
Event 3:** July 19, 2021 - August 16, 2021
* GameStop's stock price rose by 34.4% from $111.67 to $150.67
* S&P 500 fell by 2.4% from 4,443 to 4,323
Event 4:** September 13, 2021 - September 28, 2021
* GameStop's stock price rose by 22.2% from $134.72 to $164.85
* S&P 500 fell by 2.1% from 4,532 to 4,435
I post more in-depth analysis on my socials, but I expect Game-Stop to thrive in the month of August 2024. Maybe Gamestop will become the new hedge against market turbulences. I am also curious to know how the CEO will put to use the money he has accumulated from the company, maybe me and Roaring Kitty become friends in the future
GME - When can we expect another breakout?For the past two weeks i've been introducing you to the GameStop all important algorithm - Teal.
Ultiamtely, price needs to prove tapering on teal in order to breakout to the upside. That is our bullish controlled selling algorithm.
We had an important move today where price rejected off of green but then found support on teal - indicating a potential liquidity build for a further bullish move.
This can take time so patience is key here!
Happy Trading :)
$GME - First signs of something possibly happeningHi guys,
My data didn't show the last couple of large spikes making me think they were completely related to DFV's forced MM share buying to hedge which is why i didn't post anything.
Now i'm finally seeing small signs of something possibly happening. Nothing concrete yet, still the begginings of what might be something.
My algo printed a buy for GME and it's the one that kinda predicted big pump to $75, also other data partially confirms this is not a false positive print.
I plan to open a small position at some point just in case. Won't be sharing the position here as GME is an important trade and i don't want my trade to be affected by various factors caused by me sharing my position.
imgur.com
My data shows a spike in the blue line data which is significant. It it continues rising, then we'll see a price pump eventually. That's all i can say for now.
GME LONG BULL FLAGI have been watching for about a month. GME has declining volume with a bullflag forming. My target area is $24 support if it breaks the $25 dollar support. I will buy the dip if it does looking for the execution of the long term bull flag.
GME $30 magnet$30 looks like a magnet based on technical patterns to pull the price back up once the H&S pattern plays out. Chop suey to $$$ city in the short term.
GameStop watch out 12.68. 18/July?24GME probably having strong support at 12.68 +/-. As this zone is a multi confluence of :- 1) Monthly 233 EMA (white MA) 2) Monthly Order Block/ Demand Zone 3) Median Line of Pitchfork (Thick Blue). There would a probably a good support If there was a pullback toward wave E of triangle (yellow circled ) @ 12.68..
Revisiting the GME JourneyHi, here i'm taking GME as an example to show the use/power of simple drawing tools ( Channel, Curve, Arc and trendlines).
these tools helps in finding the patterns , i do have firm believe that intersection of patterns and timelines creates news/events
i also try to show how using multiple tfs help in analysis, as each time frame (tf) has many possible patterns but it is important to find the pattern followed by the price at that particular time
most of us know the importance of TA in trading and that is the reason why we r using " tv" a great place to analyse
everything on this earth follows some kind of patterns, used by many greats in there trading journey ( ratios/ angles)
you will find many graphics in the comment section which i will add after publishing this , i will also give examples from other assets , but my main focus would be on GME journey
$GME don't fight the trend!The trend still remains intact. The broader market was taken down as a whole today but Gamestop held pretty strong. Watch the trend line closely.
30.37 pullIt could go to 30.37 due to my analysis + consideration but it's also all about tweet's too lol
GME Bull Trend AnalysisBullish trend based on the second gold cross-- along with the occurrence of a possible second (short squeeze) repeated pattern almost 4 years later.
Is it really a short squeeze if it's predictable? Long term pattern repeating. Dyor always. All opinions valid.
GME Bulls Eye $50 with Strong Technical BackingHey traders, GameStop (GME) is making waves above its key Moving Averages (MAs). If this momentum continues, we could see a test of the 50% Fibonacci retracement level, right at the $50 mark.
Adding to the excitement, there's a Pringle pattern forming with a critical line just below $50. A move to $50 would signal a breakout, potentially setting the stage for a significant uptrend.
If these scenarios unfold as anticipated, we'd have support from the pattern and far above all MA levels. This could ignite a robust bull run, possibly targeting the $300 zone according to Fibonacci projections.
Also it's forming an huge inversed head and shoulders, batman, or KITTY pattern.
Keep a close watch on GME as it navigates these crucial levels—it could be shaping up for a substantial move in the near term.
Do your own research and invest with money you can lose. - This is not financial advise.
Don't Sleep on Game Stop (GME) - Time to Buy Again!Gamestop has seemingly lost steam in the past few weeks and the hype may seem like it's over. Ignore all of the fundamental talk about GME going nowhere and focus on the Technicals. The Technicals are still in play here for GME to continue to push upwards. We have created a strong support area ~$22.25 and that area has been tested several times now and continues to hold.
We've been consolidating for over a month now, and have just seen a bullish Break of Structure on the H4, signaling that this baby is ready to start moving again. The volumes haven't started picking up yet, so it may take a little more time....but this is where "smart traders" should be getting back into GME. Since we have had a few pushes up previously to the $40+ range, it won't take much at all for this to skyrocket back to those levels.
Time for a long position here at ~ $25-$27, with a HUGE Risk to Reward Ratio...5.5+. Stops should be just below $22, and targets are initially $49, then $65. Overall a ~$5 risk with a $22-$40 reward...I'm taking that trade all day every day!
GME Daily breakout Next two levels I think GME could go based on the daily breakout. First yellow line should act as a magnet. 2nd yellow line is hopeful based on liquidity zones/interest
