1GME trade ideas
GME - FREEDOM AT LAST!GME weekly chart - by now most of you already know... Technical indicators and chart dynamics pretty much say it all.
Financial FREEDOM in our time! Adding to shares - on the split.
Maybe the shorts have a little more fight left, but not much I think, and it doesn't really matter. Tick Tock.
Holding for GLORY! Dedicated to most truth spitting fool I ever knew - HYPERTIGER.
NFA.
Gamestop Falling wedge confirmed on weekly,
long once weekly close above wedge. possible retest once broken.
AnalysisHi! As you see on the chart we have an uptrend after a breakout with force of the resistance line. thanks.
The Ultimate Dorito (Dorito of Death)TLDR: moon soon
Major, major breakout today like nothing we've ever seen. Increased volatility. Made Dorito orange so easy to understand. $150 BABY LET'S GO. Please zoom out chart goes back to IPO.
Stock split incoming - where next for GameStop? GameStop
Short Term
We look to Sell at 149.60 (stop at 158.76)
Preferred trade is to sell into rallies. Trading within the Channel formation. Bespoke resistance is located at 150.00. Our bias remains bearish and further downside is expected to target support at 115.00.
Our profit targets will be 116.08 and 101.00
Resistance: 150.00 / 190.00 / 200.00
Support: 115.00 / 90.00 / 77.00
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GameStop’s stock price in the lead up to its stock split
It has been a volatile four months for GameStop’s (NYSE:GME) stock since the company announced its planned stock split on March 31.
Four-for-one split
On March 31, GameStop disclosed plans to carry out a stock split by boosting its share count to 1 billion from 300 million. A stock split does not necessarily increase a company’s market capitalization, but it makes a stock more attractive and more affordable for small investors.
At the time of the announcement, GameStop said the move would “provide flexibility for future corporate needs.”
The plan secured board approval on July 6 and on Monday, July 18, shareholders will receive three additional shares for each of their class A share, which will be distributed after the close of trading on July 21.
Stock price since split announcement
In the four months since the announcement of the split, GameStop’s stock has fallen to as low as $77.77 on May 12, and to as high as $153.00.
On Friday, the company closed 4% higher on the New York Stock Exchange, and 3.5% higher on the following Monday at $146.64, an almost three-month high.
Based on its closing price on Monday, the split would mean that GameStop’s share price would only cost around $36.
Stock split mania
GameStop’s move follows that of tech heavyweights like Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA), which enacted stock splits in 2020 and new stock splits by Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) this year.
The need for Alphabet and Amazon stock splits were as expected as their share prices have hovered around $3,000 in recent months.
But for GameStop, some financial watchers have questioned the company’s intent to do a split as its financials are failing to keep up with its stock price. In the fiscal year ended Jan. 29, GameStop incurred a net loss of $381 million, up 77% from its $215 million loss in 2020. That is despite revenue climbing to $6.01 billion from $5.09 billion.
There have also been concerns that GameStop may be going out of business as the company had announced store closures and booked millions of dollars in debt.
In its most recent earnings report, however, the company’s first-quarter revenue beat market estimates, which some have attributed to its shift towards a more online-focused model. The company had earlier disclosed plans to foray into non-fungible tokens or NFTs by the end of the second quarter of fiscal year 2022.
The plan has raised some eyebrows from market watchers including Wedbush analyst Michael Pachter, who described the move as “nonsense,” saying it will "have no NFTs for sale and no customers, and wallets they are providing will be empty."
GME closes above 200 DMA for the first time since AprilVery bullish with the 4 to 1 stock split along with 2-3 million in FTD's coming due this week after t+35, and very high borrowing costs.
This might be the perfect storm to break the Doom Dorito for the first time ever.
GME buys at yearly M2 pivot Pro traders buy at M2 pivot. Even in this volatile stock the safe buy is at M2
NYSE:GME Coinbase NFT has processed 1% of GameStop NFT’sGameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide.
GameStop’s new Ethereum-based NFT marketplace has been live in beta for a little less than a week. First two days in beta, moved well over 3,000 ETH. That's minuscule compared to OpenSea, but it beats Coinbase NFT. GameStop is looking to compete against OpenSea, the biggest NFT marketplace, which has generated some $17 billion in transactions this year. The company sees Web3 playing a major role in gaming. GameStop’s CEO, Matt Furlong, says, “We firmly believe that digital assets are core to the future of gaming”
GameStop NFT currently offers only artwork NFTs, but intends to launch a suite of gaming NFTs, which can be used as interactive items within video games. In February, GameStop launched a $100 million token incentive fund with Ethereum layer-2 scaling solution Immutable X to support development of NFT-compatible video games and products. The marketplace website notes that gaming NFTs on Immutable X are “coming soon,” and currently teases 13 NFT-compatible games that will have products available on the platform for purchase.
In the time since GameStop NFT launched on Monday, for example, Coinbase NFT has processed $31,000 in sales: that’s less than 1% of GameStop NFT’s business.
GME make it or break it zoneIt's been a while since I last looked at the GME chart. GME is looking very interesting here. Now GME is in the make it or break it zone. Technically speaking, chart pattern wise, down towards $50 or up into the +$150s is most likely going to happen within the next 2 weeks. Bears & bulls should be careful here.
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
Gamestop triangleThis long term triangle pattern has been setting up for over a year now so could potentially be a very large breakout, perhaps coinciding with the upcoming stock split.
4 to 1 Dividend stock split announcedTimeline is now set to July 22nd. Who will be the first to give in and buy back their shorts? They might survive.
All shorts to be called in.
200 MA is at 145
above 160 is where it gets nutty. Would like to see a full 1-2 closes over 160 and after that we should start seeing large margin calls come in.
GME Busting through Major Resistance GME is not only now Boomin in the NFT market, along with 7 days until a stock split dividend, but it is ripping! Have we made to MOASS???? Stay tuned I’m Bullish AF
GME - Warming up for upside breakThe buy zone I posted a few months ago acted as a solid support 3x already.
The stock is trying to break to the upside, but the gray falling trendline is showing solid support.
Recent accumulation below this trendline gives me the indication of high probability of a break. In this case, my two targets are the green zones at 190 and 235
GMe GMe has been in a range. Flat support landing around 113, and heavy resistance up towards $145.77. So far we have been ripping but definitely keep an eye on this resistance because it is going to be a monster resistance for it. There have been a few weeks that even go up to about 147, so it’s very volatile for sure. Personally I am looking for a rejection up in that range but it’s very tough to see exactly where because it’s a range from 145 to 1:47. If you got the guts this could be a great shorting opportunity in any of this box appear with stops somewhere above 149 148 depending on your risk. It’s just what I’m looking at I don’t believe it’s going to break to the upside out of this range but if it does, then I would be targeting 161 70 As the first resistance point and if we did clear that as high as170. I am not a GME bull but it has been showing strong signs so be very careful But maybe start averaging in up towards 147 on shorts
742 by Mar 2023 (185.50 post split)Used Moon phases on log scale at the weekly, some gann, and bananas for every meal.
742 in 180 days, similar setup to initial squeeze going into 2021.
100% sincere.
$GME regular flat is over (regular flat). Bullish moves incomingI have posted previously my bearish sentiment on gamestop after it completed its five wave impulse move. In my opinion, the correction is over and we saw a regular flat pattern. First impulse move was on thursday and we saw wave two today. So excited for next week!
Gann would buyInteresting breakout here because this is the real deal.
Change in price ($/share)met change in time at the daily level and change in price (%) met change in time (weeks), both 75.
Initial target is 283 pre-split.
summary on GMEOn GME we can see that after the break of the resistance line with strength and also with an impulse on the volumes we had a continuity of the trend as the chart shows. Thanks.
194 by June 24th 2022I've liked this setup for the past couple weeks and have had an approximate initial target of ~170-180. Something happened last week that gave me enough information to calculate a point target for the end of next week. I believe these next 4 trading days will be the beginning of a monster run to 300+.
My point target for June 24th is 194.12. If it can hold around that level without giving it all back, my target range by end of 2022 (likely by October 2022) is 333-357. This company has shown it can hang in the sky since its ascension back in 2021. That was all just a preview tho to true MOASS. If she gets to 300 chances are she ain't coming back and will achieve levels us apes cant even count to. Wow. Proud of u gamestop. We Believe in U.
Best,
Millie Bobby Brown
P.S. take my word that the stochastic RSI setup on the weekly is as bullish as it gets.
AnalysisAs you can see on the graph, we have a golden point. This is an intersection between the resistance line and the support line. On this action we are in an uptrend and we will not go against this trend. In this case we see that the support line is more important than the resistance line. Therefore, it will be wise to keep a careful eye on it. Thus, if the support line as well as the vwap indicator are forcefully broken by a large candle and followed by a large volume, it goes without saying that we would have a high probability of a downtrend. On the other hand, we would have an upward trend continuity if and only if the resistance line is broken with force by a large candle and followed by a large volume.Thanks for your attention.
