IS GME setting up for a BREAKDOWNNYSE:GME
On the weekly chart a wedge is formed from all time high through the top wicks
as the upper trendline and the bottom wicks while they intersect after mid-September
earnings. This thing appears to be coiling over a period of about six months
Leading pink cloud suggests BREAKDOWN .
Price action is continuously above the POC of the long-term volume profile
suggests the POC is acting as support and the upper end of the
The high volume profile (blue) is acting as even tighter support.
I look for a breakout or even a moonshot, Indeed the tall upright leg of
the triangle pattern on a long higher timeframe suggests a similar leg up.
For sure there are plenty of shorts to have pain and get sqeezed.
Buyers may open a position setting a stop loss a5 29,15 the center of the first blue volume bar
where support and liquidation liquidity both increase
Please comment, What do you think?
I will do this now. I will set two dynamic targets- an EMA 3 crossunder the EMA 9 on the
3-minute chart for a 50% sell and another similar on the 15 minute for a 25 % to leave
a partial runner and a final take for a similar crossunder on the 30-minute to
bring the other runner home,
