Game Stop Bursting BubbleOn 05/14/24 GME hit a manic peak at 64.83 then crashed 73%.
GME then retrace a little more than .618 of its prior crash.
The peak on 06/07/24 was 48.00 and it closed at 28.22.
RSI and Stochastic are far from oversold. GME has a good chance of declining down to at least 10.00.
GS2C trade ideas
Predicting a return to daily open for $GME. Here's why:Based on the chart for NYSE:GME , there's a compelling case to be made that the price will likely revisit the "open price" level indicated at the top. Here’s why:
Reversal Patterns Indication: The chart displays a head and shoulders pattern followed by V-bottom formations. The head and shoulders pattern typically signals the end of a bullish phase, but the subsequent V-bottoms suggest strong buying momentum. This indicates that buyers are stepping in forcefully at lower prices, which often leads to a price surge back to higher levels.
Support and Resistance Dynamics: The specific price levels marked on the chart identify clear resistance near the "Open to Current FIB Retracement (std dev)" and just above at the "open price". After the initial drop, the strong recovery hinted at by the V-bottom patterns underscores a robust buying interest at lower levels, likely pushing the price to retest and potentially break past the resistance at the open price.
Volume Confirmation: Although the chart does not detail the volume data, the visible bars of green and red indicate significant trading activity during the recovery phases (V-bottoms). This heightened volume during upward movements supports a bullish outlook, suggesting that the price may ascend to higher levels, including the open price.
Psychological Round Number Factor: The open price often serves as a psychological target for traders. It's common for traders to place buy orders near this level, anticipating that others will do the same due to its significance as a starting point. This can create a self-fulfilling prophecy that drives the price toward this level.
Fibonacci Retracement Levels: The inclusion of Fibonacci retracement levels in the chart is noteworthy. These levels are widely used by traders to predict potential reversal points. The current price activity around these levels might encourage more trading based on Fibonacci strategies, aiming for a return to earlier highs, such as the open price.
Thoughts?
$GME GAMESTOP... HAS THE GAME STOPPED?NYSE:GME Gamestop broke out of it's falling wedge after 3 years of a downtrend from an all time high of $120 - Weekly Timeframe.
At the breakout of this falling wedge, #GME distorted it's downtrend to start an uptrend!
Currently! Prices have retraced to supports around 24.
To maintain this uptrend, price action has to remain supported btw $18 - $24 Else next support around 10 could be retested.
Maintaining key support around $24 will allow for much higher prices in the future.
NYSE:GME Up resistances: 39, 58, 79, 99, 120
GME buy at 42 sell at 85 - easy 100% - pure technical playGME is going up on a very high momentum and volatility, very emotional market with very clear Eliott Wave patterns
It seems that possible pullback today is a great buying opportunity around 42 USD. Area of 85-90 USD is a good place for a local top.
GME Bullish Setup Jun 6-7th Update#GME had a very strong close today, hitting my Main Target box to the penny!
#TTR was long #GME (again) from $24.54, we are 50% out today, near the highs, holding the rest for Friday.
#TTR was also long GME from $13.01 and we exited the most at 64.54, 57 and 51 on the main gap up day!
#TTR is also long #AMC, all the targets were posted
GME Gameplan for tomorrow June 7th, 2024.GME has a long term BAT pattern from ATH, which should lead it to 108.12 eventually for pattern completion at .886 fib.
However, there is also a short term BAT pattern on GME, which started on May 14th 2024 (80), and takes it to 72.90 for BAT pattern completion.
Tomorrow I think we will hit that 72.90 in early morning, and then retrace 38% down to 54.68.
This 54 is the level that GME has to hold for it to take it up to 108.12
GME MovementGME tested resistance then found support and quickly back up to test resistance again. It seems as if this could potentially break through resistance and find support on the Gann fan for further movement upwards.
The other plausible explanation is trending between the two current Gann Fans which is the second outlook
GME (Gamestop) - The Markets Most Underestimated CompanyGamestop is NOT a brick & mortar store.
Gamestop is a Tech company.
Throughout history it has always been Gaming & Arts that have driven the adoption of new technologies and inspired new communities by pushing the boundaries of imagination.
GameStop has cemented itself as a pioneer by becoming the first household name to embrace blockchain technology and explore the realms of Web3 Gaming, NFT's & Crypto.
Web3, NFT's & Crypto empower creators & gamers allowing them to participate in the development of the metaverse where they can share & exchange their in-game assets.
NFT's allow for verifiable ownership of in-game assets which opens doors for gamers to monetize the time they put into gaming and create markets for their in-game assets.
----
Lets use Call of Duty as an example.
A game filled with all kinds of weapons & different levels of power & accuracy.
Imagine if there was a gun that had 100% accuracy & 100% power from any distance.
Now imagine if there was only 10 verifiable copies of this gun in the game.
How much is this gun worth?
Now lets assume a viral streamer like Ninja were to own a copy of this gun.
How much is this gun worth now?
Answer : A lot.
---
GameStop is positioned at the front line of this movement and has sparked a massive wave of innovation encouraging companies & gamers to explore new possibilities that will transform the gaming industry and force other companies to adapt or be left behind.
I repeat
Gamestop is a Tech Company.
$GME Healthy Gap up then 50% pullbackThis is the real deal. So nice they're running it up twice...
impossiblebull chart is 2 months old and his "equilibrium" is my current target around $50.
Shares>Calls for myself as I'm late imo. But room to run is there, and hype is back.
VIX is up in other news...
Gamestop MACD turning positive(⬆️ MACD Begins on chart)
Last time MACD turned positive, 20days ripping +%500 followed.
That previous run began BEFORE RK appeared. This time around, plenty of catalyst are present.
When a parabolic curve is presented, the second wave is twice as fast and aggressive (high).
I dont see this next %500 run in June taking 20days.. NYSE:GME #GME
GME Back AgainGME has struggled to maintain momentum lately, but it's a process. This week it has finally been building some solid strength. Some nice higher highs and higher lows for a change, rather than those impulse moves. Looking pretty great to go and test the week's highs and beyond IMO. Here's some potential bullish and bearish paths. Really like the way GME held the $20 area and is now grinding back up.
GameStop Odyssey: Retail Triumphs and Marvels through EFI/VolumeThe "GameStop Odyssey" timeline serves as a vivid testament to the sheer force of retail trading and the enduring appeal of GameStop in the financial markets. This chronology isn't just a recount of stock prices and trading volumes; it's a triumphant saga that captures the strategic pivots, significant milestones, and the unyielding spirit of individual investors who've rallied behind the stock. Despite recurrent skepticism and often negative media portrayals, GameStop continues to emerge as a symbol of what enthusiastic and coordinated retail investors can achieve. It underscores how, against all odds and negative forecasts, the community-driven force behind GameStop keeps the company relevant and dynamically engaged in the stock market's limelight.
By detailing each significant spike and drop in stock prices alongside corresponding EFI/volume fluctuations, this timeline does more than track financial metrics—it illustrates a narrative of resilience and retail investor empowerment. Each entry highlights how GameStop has not only survived but thrived, navigating through waves of market volatility and media doubt. This chronicle aims to inspire and educate, showing that the narrative of "dumb money" is a misnomer; instead, it's a story of strategic triumphs and collective investor savvy, proving time and again that the spirit of the market lies in the hands of its participants.
### GameStop Timeline with EFI and Stock Prices
**September 28, 2020:**
- EFI: 500 million
- News: GameStop was undergoing strategic shifts and significant interest from retail investors, focusing on transitioning its business model towards digital sales channels.
- Source: (news.gamestop.com)
**October 26, 2020:**
- EFI: 500 million
- News: GameStop continued to gain attention from retail investors, announcing plans to strengthen its online presence and enhance customer engagement through e-commerce initiatives.
- Source: (news.gamestop.com)
**December 21, 2020:**
- EFI: 500 million
- News: GameStop announced further strategic updates aimed at improving its financial performance and adapting to the evolving retail landscape.
- Source: (news.gamestop.com)
**December 28, 2020:**
- EFI: 500 million
- News: GameStop's stock surged due to increased interest from retail investors on forums like Reddit, marking the beginning of the stock's volatile period leading into 2021.
- Source: (news.gamestop.com)
**January 4, 2021:**
- EFI: 500 million
- News: GameStop maintained a higher EFI level as interest in the stock grew among retail investors, with discussions on WallStreetBets gaining momentum.
- Source: (news.gamestop.com)
**November 29, 2021:**
- EFI: 500 million
- News: GameStop continued to be a topic of interest post-meme stock phenomenon, with investors watching the company's performance and strategic decisions closely.
- Source: (news.gamestop.com)
**March 14, 2022:**
- EFI: 500 million
- News: GameStop's financial performance updates highlighted ongoing efforts to turn around the company's fortunes, focusing on digital transformation and operational efficiencies.
- Source: (news.gamestop.com)
**August 15, 2022:**
- EFI: 500 million
- News: GameStop emphasized enhancing its digital platform and customer experience, continuing strategic changes aimed at strengthening its market position.
- Source: (news.gamestop.com)
**March 20, 2023:**
- EFI: 500 million
- News: GameStop's ongoing performance updates focused on strategic initiatives and financial health, with investors assessing the impact on the stock's performance.
- Source: (news.gamestop.com)
**April 10, 2023:**
- EFI: 500 million
- News: Keith Gill, known as "Roaring Kitty," revealed he was holding $181.4 million worth of GME stock and call options, causing a significant surge in the stock's price.
- Source: (news.gamestop.com)
**May 13, 2024:**
- EFI: Spiked at around 510 million
- News: The EFI spiked at around 510 million, and it wouldn't again cross the 500 million EFI/week until this past Monday, indicating significant trading activity and interest in GameStop stock.
- Source: (news.gamestop.com)
**June 3, 2024 - June 5, 2024:**
- EFI: 510 million
- News: GameStop announced its preliminary financial results for Q1 2024. The results highlighted a net sales decline to approximately $0.872 billion-$0.892 billion compared to the previous year's $1.237 billion. The net loss is expected to range between $27 million and $37 million, an improvement from the $50.5 million loss in the prior year. The announcement indicates ongoing challenges but shows some progress in cost management and cash flow.
- Source: (news.gamestop.com)
[GameStop Analysis: From a Dad Who Dreams Big
Hello everyone,
I'm a single dad deeply into chart analysis, eager to share insights that might help others make informed trading decisions. Currently, I'm not in a position to invest myself, but I'm looking forward to joining you all soon. If you find value in my work and wish to support my journey into trading, any help would be deeply appreciated.
Here's my BTC address if you choose to contribute, would mean the world to us here at this little NYSE:GME hypestation!
bc1qxt4cwsm3py94ze8a2s3ucsaxzllehx5qj4g0qq.
(at the time of creating this article no one at this location including me, the author own a single fractional share or position in GameStop. We do however feel the hype for NYSE:GME Proud of you all!)
Thank you for considering my work, and happy trading!
Why bullish on GME?NYSE:GME 1.Fibannacci Retracement give us a price of 510$ per share in the all monthly chart.
2.Even with this move at 80$ the EMA CROSS SLOPE did not show us the long+2 signal.
3.MACD has crossed with a green buying singal and an uptrend verifacation
4.RSI at the lows with a revelsal forward to potential buying pressure
5. 2BILLION in the bank
6.25% locked and DRSED
7.Insiders buying and not selling
8. DFV THESIS
9.potential digital transformation of the company
10. PROVED WRONG SHORT THESIS.
These ten reasons are enough to just be BULLIsh on GME
Thats my hummble opinion and of cource its not any financial advise.
ANYWAY MARKET SEEMS TO BE BULLISH....CRAZY BUT IT IS INSTEAD! NYSE:GME
The Ongoing GameStop Saga: A New Chapter UnfoldsThe GameStop (GME) story continues to captivate both retail traders and Wall Street veterans alike. 🏆 While the epic showdown between retail investors and hedge funds last year marked a significant chapter, recent developments indicate that this saga is far from over. Let's take a closer look at the latest twists and turns in the GameStop narrative.
A Rocky Start to the Week 📉
On Monday, GameStop opened in a monthly supply zone—a critical price area where selling pressure is typically high. As anticipated, the stock faced significant resistance and dropped 34% by the end of the trading day. This movement is a stark reminder of the volatility that continues to characterize GME.
The Technical Perspective 📊
For those following the charts, it's crucial to note that buying GameStop above $12.75 means paying a premium for a stock currently in a monthly supply zone. The $12.75 mark represents a discount price for potential buyers, suggesting a more favorable entry point based on technical analysis. Above this level, investors might be taking on additional risk by purchasing at higher prices within a supply zone where sellers dominate.