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GAMESTOP CORPGAMESTOP CORPGAMESTOP CORP

GAMESTOP CORP

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1GME trade ideas

Are you ready for a short squeeze???We have a HS bottom pattern on the daily we are above the 200 ema and we have a golden cross (100 and 50 crosses above the 200 indicating a trend) RSI is on overbought indicating the momentum increasing. after the consolidation of shorts its time to squeeze them. The .618 fibs can help calculating the targets along with the conventional calculation of the pattern With the minimum target of 0.786 beware trading patterns with scammy stocks such as GME not a financial advice!
NYSE:GMELong
by Captainobvious5454
Updated Ascending Triangle!I wanted to update everyone following the TA on GME. It looks like yesterday's sideways movement has widened the Ascending Triangle on the 1-hour chart, which was expected due to the Cup & Handle formation on the daily chart. This sideways movement has now set up the handle on the daily chart and makes for a much larger breakout than anticipated. Here's the latest development: Along with the widening of the hourly Ascending Triangle, the 4-hour pennant breakout has now formed a second small pennant, which also makes up the handle for the Cup on the daily chart. Additionally, GME is still in the middle of a Bull Flag breakout on the Weekly chart, on top of a Golden Cross! Here's the current breakdown: 1-hour chart: Ascending Triangle 4-hour chart: (New)Bull Pennant Daily chart: Cup & Handle Weekly chart: Bull Flag + Golden Cross I've never seen a setup quite like this before. The breakout across all timeframes is going to be something special for sure. I'm just counting down the days until these patterns breakout across all timeframes. For those following this for the first time, here's some exciting historical context: The last time GME had a Golden Cross on the weekly chart was back in January 2021, and GME saw a 12,000% move in just 183 trading days. Don't blink—we are right around the corner from history in the making! ✌️
NYSE:GMELong
by impossiblebull
1
MOASS: WC: 26.59 Target: 1800-2400 MOASS: 47k-100KTLDR: -Technical Analysis works -Trading on hoping and holding will most likely cause you to lose a lot of money -Reddit/Social Media and the whole "TA doesnt work on GME" is a problem for the GME community and most of the of people who think like that are not going to make near what they could if they actually understood TA -Nothing special about the 28 level other than it coincides with the VWAP off the April runup -MOASS has been ongoing since 2020 and never stopped -WE CARE AND WANT YOU TO BE SUCCESSFUL -THE GME STORY AND COMMUNITY IS SPECIAL
NYSE:GMELong
by Heartbeat_Trading
22
Textbook Ascending Triangle on the 1 hour!🚀 GME Market Update 🚀 We are excited to announce that GME has now formed a textbook Ascending Triangle on the 1-hour timeframe. We are officially locked and loaded. From the 15-minute chart up to the weekly chart, this setup is exceptionally rare. The anticipated breakout across all timeframes promises to be something remarkable. Here's a detailed breakdown: 15-minute chart: Ascending Triangle 1-hour chart: Ascending Triangle 4-hour chart: Bull Pennant Daily chart: Cup & Handle Weekly chart: Golden Cross Such a comprehensive alignment of bullish patterns is extraordinary. Prepare for a significant movement in GME.
NYSE:GMELong
by impossiblebull
5
15 min Pennant has now transitioned into an Ascending Triangle! Hey everyone! Just wanted to give you an exciting update for those tracking the Bull Pennant on the 15-minute chart. As of today, it looks like the Pennant has transitioned into an absolute textbook Ascending Triangle! Here's the breakdown of what we have across all timeframes as of today, 15-minute chart: Ascending Triangle, 4-hour chart: Bull Pennant, Daily chart: Cup & Handle, Weekly chart: Golden Cross Bullish patterns are lighting up across all timeframes, perfectly aligning with the recent surge in institutional buying. Given all this, I've never been more bullish on GME than I am right now. We are on the brink of making history!
NYSE:GMELong
by impossiblebull
1
GME 15 min Bull Pennant Watching the 15 min on GME, and it seems that it has formed a pretty substantial Bull Pennant on the 15 min. This comes just after the Cup & Handle breakout earlier this week. We can also see that, the Ultimate RSI has Oversold, while setting a higher low withing the Pennant. I believe that once this Pennant starts to breakout, GME is going to stretch into the 30s, and with no current supply above $29, this may very well see it's way into the $60s real quick. This is only the 15 mind you. We still have a much larger Pennant on the 4hr, another Cup & Handle on the 1 day, and a Golden Cross on the weekly. Pretty much every timeframe is showing a bullish pattern right now. If you ask me, I would say it's go time. Remember, the last time GME broke out from a Golden Cross on the weekly, was back in July of 2020 and lasted until Jan of 2021. And we saw a 12,000 percent run over the span of 6 months. If you're currently short, you better say a prayer. To everyone else, let the games begin! 🤙
NYSE:GMELong
by impossiblebull
1
meme pullbackthis hourly chart on gamestop shows bull exhaustion and a potential temporary top due to the amount and quickness of consolidation intraday. this stock is down from its highs in a market environment with sudden scarcity of bull trends after the recent break to all time highs in spx. with the market pulling back i expect this stock to continue to pull back although remaining bullish on higher timeframes like the weekly. i would short if we remain below VAH and close short in VAL area or the blue support zone.
NYSE:GMEShort
by cerealindicator
2
ChatGPT as an Ape in $GMEThe “Reverse Gravity” Play: Forget fundamentals, because GME is defying all logic! If this stock has taught us anything, it’s that conventional physics don't apply here. GME’s fanbase (aka “the Apes”) are ready to push the price back up through sheer willpower, diamond hands, and the belief that nothing is impossible when meme magic is involved. Short Interest Redux: If GME’s price history is any indication, short interest remains a constant underlying fuel. With even a hint of a short squeeze, the Apes could pile on, pushing the price in one of those classic, high-speed, short-covering frenzies. And we’ve seen it before—$200 could be just the start! Strong Community Cohesion: GME investors are practically a cult (in the best way!). This isn’t your average group of shareholders—they’re a legion with a unified goal: taking GME back to the moon. This kind of “HODL” mentality creates demand out of sheer conviction, something rare for a stock. GameStop’s Transformation Plan: GME is not the brick-and-mortar dinosaur it once was. With digital transformation, a dive into Web3, and strategic ventures in the gaming world, GameStop has a potential narrative shift at hand. If they manage to get a few key partnerships or show revenue traction, the market might just give them the “meme stock meets tech stock” premium! Rising Volume as a Sign of Momentum: Any sign of rising volume with GME historically attracts more eyes and wallets. A renewed buying spree, even speculative, could easily propel it toward $200—especially if broader market sentiment swings back to high-volatility plays. So, whether it’s Ape strength, market conditions, or GME’s new-age plans, $200 is a psychological level within reach. And hey, we’ve all seen that nothing is too wild for this stock. Analyzing GameStop Corp. (GME) from a technical perspective reveals several indicators that could support a bullish thesis aiming for a $200 target: Moving Averages: As of November 11, 2024, GME's stock price is trading above its 20-day, 50-day, and 200-day moving averages, which are $22.39, $22.07, and $19.85 respectively. This alignment suggests a strong upward trend. Relative Strength Index (RSI): The RSI stands at 69.89, approaching the overbought threshold of 70. While nearing overbought conditions, it also indicates strong buying momentum. MACD (Moving Average Convergence Divergence): The MACD value is 0.59, which is a positive signal, suggesting that the stock's short-term momentum is stronger than its long-term momentum. Volume Trends: An increase in trading volume often precedes significant price movements. Monitoring for sustained higher volumes can indicate strong investor interest and potential for upward price action. Support and Resistance Levels: Key resistance levels to watch are around $30.50, a previous high, and $64.83, the 52-week high. Breaking through these levels with strong volume could pave the way toward higher price targets. Applying Elliott Wave Theory to GameStop Corp. (GME) can provide insights into potential future price movements. Elliott Wave Theory posits that market prices move in predictable patterns, consisting of five-wave impulsive phases followed by three-wave corrective phases. Current Wave Analysis: Wave 1 (Impulse): GME experienced a significant rally from its lows, marking the first impulsive wave. Wave 2 (Correction): This was followed by a retracement, typical of the second wave. Wave 3 (Impulse): The stock then entered a strong upward movement, often the most powerful wave in the sequence. Wave 4 (Correction): A subsequent consolidation or pullback occurred, representing the fourth wave. Wave 5 (Impulse): Currently, GME appears to be in the fifth wave, which could lead to new highs. Projection to $200: If GME is indeed in the fifth wave, this final impulsive phase could propel the stock toward the $200 mark. Historically, fifth waves can extend beyond previous peaks, especially if driven by strong market sentiment. Considerations: Wave Extensions: In some cases, waves can extend, leading to higher price targets. Monitoring for such extensions is crucial. Volume Confirmation: Increased trading volume during the fifth wave can validate the strength of the move. Market Sentiment: External factors, such as news or broader market trends, can influence wave patterns. GameStop Corp. (GME) reported its fiscal second-quarter earnings on September 10, 2024, delivering mixed results: Earnings Per Share (EPS): The company achieved a profit of $0.01 per share, surpassing analysts' expectations of a $0.08 loss. Revenue: Sales declined by 31% year-over-year to $798.3 million, falling short of the anticipated $895.67 million. Despite the unexpected profit, the significant drop in revenue raised concerns among investors, leading to a 16% decline in GME's stock price following the earnings release. In response to the revenue shortfall, GameStop announced plans to close additional underperforming stores as part of a broader cost-containment strategy. Analysts have expressed skepticism regarding GameStop's long-term strategy, citing challenges such as the shift from physical to digital game sales and the company's lack of a clear growth plan. Overall, while the positive EPS was a highlight, the substantial revenue decline and strategic uncertainties have tempered investor optimism. As of October 15, 2024, GameStop Corp. (GME) had approximately 35.96 million shares sold short, representing about 8.43% of its outstanding shares. The short interest ratio, which indicates how many days it would take for short sellers to cover their positions based on average daily trading volume, stood at 4.4 days. This level of short interest suggests a moderate degree of bearish sentiment among investors. However, it's significantly lower than the peak levels observed during the 2021 short squeeze, when short interest exceeded 100% of the public float. Good Luck, ChatGPT
NYSE:GMELong
by PublicizePays
2
MOASS: WC: 24.88 Target: 1800-2400 MOASS: 47k-100KTLDR -Margin Call -VWAPS used to control risk -VWAP Bands measure standard deviations from the VWAP -Pushing thru the bands takes volume and momentum -Fibs are targets -Fib pairs act as support and resistance -Smaller MOASS box and corresponding fib extensions show really good targets that traders can use to protect their investment -Sentiment drives price and we don't care about fundamentals Note: WC in title = weekly close.
NYSE:GMELong
by Heartbeat_Trading
19