0A6L trade ideas
Time to switch from Momentum trading to mean reversion in GMENYSE:GME
The latest Short Interest data has been updated recently by FINRA. Keep in mind that SI data always lags by two weeks as they are introduced.
The SI data with a settlement date of May 31 shows that SI has dropped from 22% to 15%. This is a massive drop as it is the lowest number of shares short in nearly 2 years.
This also explains (in hindsight) why the gap up on the next trading day (June 3rd) immediately fizzled as there was not as much juice to support the run as before.
See chart image below for SI and other financials.
We are now in dicey territory. GME is not a small cap stock; it's a $9.5B Market Cap.
Investors reacted differently to it this time than they did the last time Redditors took this stock to the moon.
Investors quickly abandoned their shorts. They are much less stubborn this time around than last time and certainly don't want the headlines.
Thus I would argue that looking for momentum breakouts maybe reckless here. There is a good chance that this stock is done for and will peter-out back to it's normal downtrend.
But whether it does or it doesn't, a mean-reversion trade is in order. Either as a dead cat bounce or as a setup to shake out unserious hands, lure in shorts and gather enough momentum for the next bullish attempt.
Blue arrow at $21.54 shows minor resistance (TA shown on black & white chart) but I think we will get a flush down to the cyan arrow at $18.06.
I will be looking to buy it there.
Anyway, that's what I am doing with my money, you do you.
Good luck.
GME - A local Higher High is LikelyHello all, just a man following those pennies.
The structure I am seeing on GME hints at a likely higher low to form Thursday (6/13/24). I do believe that there's a significant likelihood we see a bullish sweep, and looking at this overall structure I do believe a higher local high (above $34) will be made.
However, the long-term picture of this, suggests a likely fall in price after this next move. Will be watching to see how this pans out, but I plan on taking a low risk trade in the Morning given pre-market isn't a slaughter below $22.85 range. Who knows, sometimes GME moves so fast and with such volatility we could gap up with insane momentum within the first few trading hours leaving me unable to take this trade. Even if I were to go short via puts/stock on the rise, the risk and gamma squeeze would leave me disinterested. Let's see how tomorrow opens.
The pennies suggest a higher low.
have a good one :)
GME to $14.25GME to $14.25, clearly, broke the triangle to the downside, hourly turning down, that's my estimate.
GMEideas about the movement of the GME stock for the year
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GME - Week of June 17, 2024NYSE:GME - Thesis
- Management is Ryan Cohen; the buffet approach
- With over $4 billion in cash, Game Stop has a better Price-to-Cash valuation than plenty of companies inside NQ.
- RK comes back after a three year hiatus, with transparency of his portfolio.
- Market structure is forming a moon landing to $120+ per share.
- And with a cultist group of degenerates (like myself); Hedgies Getting Wedgies - Dumb Money 2 will be made.
Despite all of this.... I can be totally wrong & management could rug pull everyone and it goes straight down to zero.
Nothing I post is financial advice nor investment advice....
I simply like this stock!
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Upcoming Move on $GME Before July 2nd, We can anticipate a HUGE move upwards on $GME.
RSI looking bullish and MACD is about to turn green.
Breakout is imminent.
The first target should be $81
$GME Trading tipsstocks always seem to follow certain technical analysis although can be broken, also the norm is 3 touches to either resistance or support.
I look at this chart and feel bullishMy gut instinct is to long here (just from the pure chart itself).
There is nothing fundamental about this idea, aside from the fact that GME has a market cap of 10 billion, which is low enough to be pumped. The overall liquidity cycle reverted and is rising. In this stage of the cycle, memecoins and stocks rising just from belief / attention alone is very possible, in fact it is more likely to happen than not.
"Tap into the heart and soul of the increasingly desperate, degenerate, jobless, lonely, addicted - generation moonshot"
All it takes is a spark to light the fuse.
$GME Up Up & AwayKey resistance support levels set up and will be trimming position heading into the $40 level. MACD Cross + RSI Cross/Uptick + Broke above 7D SMA.
Bye bye.
GME 6-14-24Targets for the day on GME. This is not financial advice. Use stop loss and don't forget to take profit.
GME & Roaring Kitty! Is party over? Roaring Kitty sold his calls for a lovely profit.
Rolling those profits directly into common shares.
He has no amaased over 9 million shares.
Matching the exact amount of Ryan Cohen in 2020
This deep value trader is certainly not done with this stock.
Gamestonk to dah moon4B in cash, no debt.
Beautiful quarterly chart closing. May take a year, may take a month.
Embrace left curve thinking. We like the stonk.
I like the stock to $42Good afternoon traders,
I like the stock and the price action with confluence of other variables.
I am long.
Weekly line chart
Price action basics I learned.
New low/same range as sent it up holds
try again
Monthly Line chart.
NYSE:GME to $42 blaze it
$GME AlgoTradeAlert Algorithm Momentum Indicator Our strategy is to wait for the large green dot to enter a long position. Today at 12:30, we got our large green dot buy alert. We never trade with emotion. By eliminating emotion, we can trade successfully and make huge profits that will pay for the software 10 times over. NYSE:GME #gamestop
gme long Hey, I've been watching the chat but don't yet have the karma to get into chat yet.
so Here I'm publishing an idea. looks like we've been in the upper bound of vwap.
i don't really know what that means but I think gme is going to touch 30 today and bounce back down.
Next idea for GMEPeople have to hate this market. It rewards patience, and punishes chasing. Here are my new levels for $GME. If you missed the previous calls, we absolutely nailed it.
Stay patient.
$GME AlgoTradeAlert Momentum Algorithm IndicatorNYSE:GME AlgoTradeAlert Momentum Algorithm Indicator
We never short growth stocks or stocks with a lot of volatility. If we were short, we would have covered our short position and gone long. Instead, our strategy is to wait for the large green dot to enter a long position. On June 10, we got that large green dot and we entered into a long position. Yesterday at 13:20, we exited our long position with a fantastic profit. Today we are going to repeat the process and do it all over again. Wait for our algorithm to give us a buy alert to go long.
Gme stock is looking to spring upSo far, we have not elected any Daily Bullish Reversals. The Daily Bullish Reversal to watch stands at 3180. A bullish trend remains in play as long as this market holds above 2110 on a Daily closing basis. A closing beneath that will signal a near-term change in trend to the downside.
substack.com/@dumitrupopovici?utm_source=profile-page
Did You See What GameStop Just Accomplished?I must say, and as I wrote the other week ( see here ), the winners of the GameStop resurgence was GameStop itself. They now have $4 BILLION in cash on their balance sheet. That's right – a strong community can do wonders for a brand, its backing, and the company itself. Between Roaring Kitty, Ryan Cohen, and everyone on Reddit, they just created a viable business with an entirely new fundamental outlook.
Let me explain:
- They eliminated all of their debt, thus zero debt!
- They now have about $4 billion in cash.
- Market cap is nearing $10 billion.
- They do about $3.2 billion per year in revenue.
- They have 3x PS ratio, but many startups for for 5x or even 10x. But keep in mind that a majority of that is in cash. If we back out the cash from the market cap, the PS ratio is more like 1.5.
If you think they are on the verge of rebuilding and recreating their story, they have the revenue and balance sheet to do it.
Well worth watching…
By the way, I still can’t believe some 25%+ of the float is still short and public about it in available data.
I currently do not have a position, but as someone who appreciates fundamentals, a sound business, it surely has me watching it more closely than I have in prior years. The road will be long and difficult, and they have to execute flawlessly, but if they can, the vision is to become a gaming giant that'll be a value add to the gaming world.
GME Trade PlanA look at Gamestop. This has been getting attention again! Wall Street vs. Retail Traders battle. There is a LOT of Short volume on GME and AMC, and the big Analysts say the buying is nothing and that everyone should sell. BUT, the technicals don't lie and in our opinion, this is going to take off again. Jim Cramer says it's nothing and that it will flop, so it's definitely a buy! LOL !!
We first got the buy signal at ~$17 week BEFORE the news of this big push up...all from the technical analysis. So...If you're following this with us, it is time to buy again at $26.
Target is $45, then $68. If this holds...a retest of previous highs is likely coming
Simple Price Analysis and where I expect price to go.My simple quick 10 minute analysis on where the stock is and what I believe can happen unless breaks under last bottom side of new trend.
