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GME Gamestop Technical Analysis and Trade IdeaHistorically, GME (Gamestop) has been in a downtrend when we look at the monthly time frame. However, recent developments indicate a potential shift in the trend. As we zoom in on shorter time frames (weekly and daily), we observe signs of bullish momentum. Buyers may find opportunities in these time frames. In a video, we explore a potential trade idea. First, on the 4-hour chart, we notice that the price has retraced into an optimal buy zone. Next, we delve into the 15-minute chart, waiting for specific price action confirmation before getting involved. Remember that trading carries inherent risks. This information is intended for educational purposes only and should not be considered financial advice. Always manage your risk wisely. 📈👍
NYSE:GMELong
by fxtraderanthony
7
GME Euphoria time?Analyzing GameStop is always difficult. I have seen the previous reddit pump some years ago, and it was pretty hard to find possible entries and reversal pattern. But this time the chart is giving us some useful info. We can see a break above daily trendline, and the black box a liquidity zone (actually a resistance). The main chart looks bullish, and today's pump can be a signal of a possible round 2. To confirm a bullish trend, we must close a daily candle above the black box, that will eventually help us reaching the top again. If the community will try to repeat the miracle again, this time funds will be prepared and it will not so easy. But, on the other hand, community is stronger now and probably bigger. Let's see
NLong
by SaliJournal
GME 8/23/2022GME Why hasn’t #Wallstreetbets save their fanboys? GME Weekly chart analysis Let’s compare 2021 vs 2022 Pretty clear and straight forward. 2021 Two green weeks mid Jan.’21 sent price flying from 9.75 to high of about 120.65. Since then, GME has done nothing but make a series of Lower Highs into Support area @ 37.95-45.55. These Lower highs into support area displayed the weak buyer pressure by bulls. A bearish Descending Triangle was formed. After 10 months of failing to break a high, in Nov.’21 Bulls did the unexpected and “broke out” of the Triangle looking to continue the previous up-move. This “Breakout” was short lived as the pressure from the sellers overwhelmed the buyers. Price was shot back down below Triangle breakout point. The “breakout” move was deemed a “False breakout/Price rejection”. In Dec.’21, the false breakout was followed by price breaking down below Support area @ 37.95-45.55 and the 50 ema. This is the 1st time since Aug.’20 that price falls below and lost Support of 50ema. All of 2021 was spent by the Bulls/Buyers trying to fight off the Bear/seller pressure and trying to stay above Support area @ 37.95-45.55 and the 50 ema. They were systematically broken down and eventually overwhelmed and conquer by the Bears/Sellers. 2022 After breaking down from Support area @ 37.95-45.55 and the 50 ema, by end of Jan.’22 price made a Lower Low and found new Support @ 22.20. From Support @ 22.20, price bounced are looked to break back above Support area @ 37.95-45.55 and the 50 ema. Price failed to stay above previous Support and was rejected back down to 22.20. Support area @ 37.95-45.55 and the 50 ema were turned into Resistance area/level. Price bounced one move time from Support @ 22.20 to Support turned Resistance area @ 37.95-45.55. We have a Price rejection pattern here. This is cue to enter trade short. The Bulls/Buyers have spent all of 2022 moving sideways between new Lower Low/Support level @ 22.20 and previous Support turned Resistance area @ 37.95-45.55 and the 50ema. After a hot 2 weeks in Jan.’21 that saw price fly from 9.75 to 120.65, GME has now spent 81weeks moving side-ways with the Bears/sellers systematically breaking down the Bulls/Buyers. Now with the 2nd price rejection @ Resistance area @ 37.95-45.55 and the 50ema, Bears will look to move price back down to Support @ 22.20 and then breakdown to Support area @ 9.75. Why hasn’t #Wallstreetbets put their powers together again and save the bleeding out GME bag holding fanboys still talking about “going to the moon”? Sad to see them let the fanboys over @ AMC get cooked earlier this week. With extreme bear conditions and price siting at “area of value”, I will be entering trade short. Short term trade Entry: 33.53 Stop loss: 22.20(-22.98%) Target: 22.20, +33.93%, +1.48 RR ratio Long term trade Entry: 33.53 Stop loss: 52.50(-56.76%) Target: 10.00, +70.14%, +1.24 RR ratio
NShort
by rudcharts
68
GameStop Stock Soars 45% on 'Roaring Kitty' Posts on Twitter GameStop shares surged 45% as markets opened on Monday, with Keith Gill, also known as "Roaring Kitty," posting to social media for the first time in nearly three years. Gill was a key driver of the meme stock craze of late 2020 and early 2021, rising to prominence due to his substantial bets on the stock. Gill's enthusiasm over the stock drove the online excitement, along with other figures, including activist investor Ryan Cohen, who worked his way to the GameStop ( NYSE:GME ) board and was named CEO last year. Gill was a streamer who bought $53,000 worth of GameStop ( NYSE:GME ) shares in 2019 after learning about the investing world and becoming convinced that the retailer was undervalued. At the peak of the meme stock surge, Gill's position was worth an estimated $48 million. He eventually said goodbye to his online persona, last posting to YouTube and X (then Twitter) in 2021. Users of the WallStreetBets subreddit, the online community that was central to the GameStop ( NYSE:GME ) surge of 2020, expressed excitement about Gill's return, with many top posts on the forum about Gill's post or GameStop's price as of Monday morning. GameStop ( NYSE:GME ) and the company's stock symbol, NYSE:GME , were each trending on X Monday morning, with many users celebrating Gill's return and posting about their investments into the stock. GameStop shares ( NYSE:GME ) are still well below the all-time high of $120.75 they reached on Jan. 28, 2021, but more than double its value from the start of May.
NLong
by DEXWireNews
Shares of GameStop ($GME) Stock Climbed More Than 13% ThursdayGameStop ( NYSE:GME ) stock has risen 13.1% to its highest close since December, marking a resurgence for the videogame retailer and original meme stock. The stock closed at $18.01, its highest since December 28, when it ended at $18.07. GameStop ( NYSE:GME ) shares also recorded their biggest single daily percentage gain since May 3, when they climbed 29.1%. Despite facing significant challenges, GameStop's stock price has surged, reminding investors of the 2021 surge from less than $10 per share to $120. Revenues in Q4 dropped to $1.79 billion, down from $2.2 billion in 2022, and analysts expect revenues for 2024 to be $4.9 billion followed by $4.7 billion in 2025. The gaming industry is changing, with people preferring to buy gaming consoles online directly from manufacturers or third-party sellers. GameStop's attempts to diversify its income have failed, with its entry into the Non-Fungible Token (NFT) industry failing. Despite this, GameStop ( NYSE:GME ) still has one of the best balance sheets in the industry, with little debt of just $17 million and capital leases of $386 million against cash and short-term investments of almost $1.2 billion. In 2023, the company made almost $50 million in interest income, helping it turn a small profit of $6.5 million. The daily Price chart shows that GameStop's stock price has soared due to a falling wedge pattern, which is one of the best-known reversal signs. Traders need to be cautious of a trend reversal as Gamestop stock ( NYSE:GME ) has a Relative Strength Index (RSI) of 75.89 which is in the overbought region.
NLong
by DEXWireNews
GME, Potential Bull MarketGME is getting a double bottom on the higher timeframes, Similarly to the previous bull run that lead to a 4,500%+ run. I have the measure move slightly below the last ATH. with a Gold Pocket around $78-$81 Things to consider With the recent pump of 78% since it's recent local bottom, it may or may not be a good idea to enter, It's at a really strong resistance, Volume is lower that previous candles these sizes. It may pull back 15%-40% before continuing, if continuing. Thank you.
NLong
by TopTraderJas
1
$GME 🚀 It's Moon Time! PT:$11.56 & $14.37Hello everyone, I know you all have been waiting for a big update. Here is the tea: First PT coming in at the daily at $11.56. Break above the daily and the next PT is at the weekly $14.37. These two will act as very hard resistance and if both are to break then we will head to the monthly at $21.10, but we will analyze that part when we cross that bridge. RSI indicates that GME is in the bull zone right now. The MACD is slowly curling up and if the lines cross above the 0 line, then that would indicate a very very bullish signal. If GME rejects the daily, then price will trend lower and will test the hourly at around $10.62ish. Anyways, there is room to run here folks! Strap in because this is just the beginning. $9.94 was the low and it won't be returning there anytime soon. Not financial or sexual advice.
NLong
by SierrasTrades
7
GameStop Corporation Technical Analysis.As of the latest market data, GameStop Corporation (NYSE: GME) exhibits a complex technical landscape that warrants an intricate analysis for potential investors or traders looking to navigate the volatility inherent in this stock. We will dissect the available data, which includes ownership structure, valuation, growth and profitability metrics, revenue streams, dividend history, technical indicators, and a one-year forecast, to provide a nuanced understanding and predictive outlook. Ownership and Valuation Metrics: The ownership structure shows a predominant free float with 87.18% of shares, suggesting a relatively high degree of liquidity which can both present opportunities for high volume trading but also contribute to potential volatility. With a market capitalization of $3.40B juxtaposed against a substantial price to earnings ratio of 515.57x, the stock presents a speculative stance, indicative of investor sentiment heavily pricing in future growth expectations. The price to sales ratio at 0.63x appears more grounded, providing a silver lining that the company's stock price may not be overly inflated relative to sales. Growth Trajectory and Profitability: The annual net margin trajectory suggests an improvement, with the margin turning positive in 2023. This reversal from previous years' losses is a bullish signal, reflecting an effective management strategy and potential operational efficiency gains. Revenue breakdown indicates a diversified portfolio with significant contributions from hardware and accessories, software, and collectibles, denoting a balanced approach that could mitigate sector-specific risks. Dividend History: GameStop has ceased dividend payouts, evidenced by a dividend yield TTM of 0.00%. This can be viewed as a strategy to reinvest in the company's growth or a reflection of the need to conserve cash, given the competitive retail landscape. Technical Indicators and Price Prediction: Oscillators like the RSI at 34.35 signal neither overbought nor oversold conditions, leaning towards neutral sentiment. The Stochastic %K and MACD indicators present a conflicting view with a neutral to bearish bias, suggesting that short-term momentum may not be in the bulls' favor. Moving averages paint a bearish picture, with significant selling recommendations across multiple time frames, pointing to a potential downtrend. The Ichimoku Cloud on the weekly chart is bearish as prices trade below the cloud. The conversion line (blue) below the baseline (red) further indicates downward pressure. Price Targets and Trade Strategy: Based on the technical forecast and pivot points, one could speculate that should the price action stabilize above the pivot point at $19.00, it may open the door to test resistance levels at $26.18 (R1) and $34.83 (R2). Conversely, a break below the classic S1 pivot at $10.35 could see the stock testing lower supports at $3.18 (S2), a level that would present a highly oversold state and potential buy opportunity for risk-tolerant traders. Based on the one-year forecast, the stock has a potential upside of +40.14%, averaging at -18.02% with a downside risk to -49.37%. A speculative target price could be set at $15.50, denoting a 40% potential increase from the current levels. However, this should be taken with due diligence and monitored closely for adherence to one's risk management protocols. Conclusion and Actionable Insights: Investors could consider accumulating positions if the stock shows resilience above the S1 pivot point, with an eye for a mid-term hold aiming for R1 or R2 targets. Traders might seek short-selling opportunities, provided the moving averages continue to indicate sell signals, particularly if the price remains below key moving averages on higher time frames. All entry points should consider the MACD and RSI for confirmation, and exits should be predefined to manage risks effectively. It is vital to monitor upcoming earnings reports and market sentiment shifts, as these could drastically alter the technical forecast presented herein.
N
by AxiomEx
$GME: 🚨Most Important TA Ever Part 2 Heading Back to $14🚀🚀🚀Hi everyone, Financials GameStop is in an exciting phase of transformation and financial stabilization, as shown by its latest financial report. The company has successfully turned a significant loss into a net income, indicating not just resilience but strategic navigation through market challenges. A standout is the positive shift in EBITDA to $64.7 million, signifying GameStop's improved operational efficiency and ability to generate profit from its core activities. Despite a dip in net sales, GameStop has showcased excellent cost management and maintained strong liquidity. This, combined with strategic leadership enhancements, positions GameStop well for tapping into the evolving gaming and retail sectors. For investors, the improvement in EBITDA is a positive sign of GameStop's growing ability to fund operations, invest in growth, and potentially offer shareholder value from its main business operations, rather than relying on financial maneuvers or asset sales. This makes GameStop a compelling investment choice for those interested in a turnaround story within the dynamic retail and gaming markets. Technical Analysis Every time GameStop has made a double bottom, there has been a significant rebound to the upside. May '21 + Aug '21 (+80%) Mar '22 + May '22 (+149%) Jan '23 + Mar '23 (+79%) Nov '23 + Apr '24? (+?%) The indicators continue to show a bearish trend, suggesting a potential further decrease in price. NYSE:GME recently touched the 0.786 Fibonacci retracement level. If positive news or market actions occur, there's a chance for a rebound up to the daily resistance. Downside PT: $10.68 Upside PT: $14 and $15. (Price needs to stay above $12.78 for this to potentially play out). Will be updating this as it plays out. All the best! Good luck and not financial or sexual advice. :)
NLong
by SierrasTrades
7
GameStop. A Speculative Gaze at Potential Trading Strategies.As we dive into the technical fabric of GameStop Corp's (GME) stock, we are greeted by a tapestry of indicators and patterns that sketch out both caution and speculative opportunities for the discerning trader. Let's unravel the threads of the latest price action and market data to envision a trading strategy that is as informed as it is speculative. Price Action and Candlestick Analysis: GameStop has seen a tumultuous journey, marked by substantial volatility. The latest weekly candlestick portrays a somber picture—a close at $10.42, which is a slight recovery from the intraday low. This indicates a struggle between bulls and bears, yet neither claims victory convincingly. The candlesticks preceding this have consistently formed lower highs and lower lows—a classical downtrend signal. Ichimoku Cloud Analysis: The stock is currently trading below the Ichimoku Cloud, indicating that the path of least resistance is to the downside. The Conversion Line (blue) at $12.92 is below the Base Line (red) at $14.27, reinforcing the bearish sentiment. The Lagging Span intersecting the price from above suggests that the current trend has momentum, but the proximity to the price also hints at potential consolidation or reversal in the near future. Fibonacci Retracement Levels: The Auto Fib Extension tool has anchored the 0.618 retracement level at $8.81, which could potentially serve as a critical support level. Conversely, the 0.236 retracement level at $14.59 is now a resistance that bulls must overcome to regain control. Volume Analysis: Volume spikes are noticeable during price declines, indicating that selling pressure has been accompanied by increased trader interest, potentially signaling capitulation stages. RSI and Stochastics: The RSI is hovering around 30, which is a threshold for oversold conditions. Meanwhile, the Stochastic indicator is also near oversold levels, suggesting that the stock might be due for a corrective bounce. MACD: The MACD remains in bearish territory, with the histogram showing increasing bearish momentum. This could indicate that there may still be some downside before any potential reversal. Speculative Price Targets: If the bearish momentum continues and the stock breaches the $10.00 psychological support, the next target could be at the 0.618 Fib level ($8.81). A break below that might open the door towards the 1.618 Fib extension ($7.01), which would be an aggressive bearish target. On the flip side, if the bulls mount a comeback, a push above the $12 level could aim for the 0.236 Fib retracement ($14.59), with a speculative eye on the $18.00 zone, coinciding with the Ichimoku Cloud base. Potential Buy and Sell Zones: A conservative buy zone could be approached if the price stabilizes above the $10.42 level with increasing volume and a bullish crossover in MACD. An aggressive trader might consider entering near the $8.81 level, hoping for a bounce from the oversold conditions. For selling or shorting, one could look for rejection at the $14.59 resistance or a failure to maintain support at $10.42. The strategy would depend on whether one is looking for short-term bounce plays or riding the bearish trend. In conclusion, GME's technicals paint a picture riddled with bearish undertones but not without speculative opportunities for rebound trades. Traders should monitor key levels and indicators closely, prepared to pivot with the shifting tides of market sentiment. Remember, the markets are fickle, and technical analysis is but one part of a comprehensive trading strategy.
N
by AxiomEx
2