GME tomorrow?I realize it's a stretch.. however, the price is heavily supported by MA's & the inverse fib levels are *nearly*- not all the way- bottomed out.
*Not trading advice.
1GME trade ideas
Analysis-uptrendAs you see on the chart we have the breakout with force the vwap indicator and the resistance line by a big green candle with a large volume, so we will have a big probability of an uptrend.
$GME - August runs are comingIf you're already following me, you know the drill. It's about time for the quarterly runs for GME and Meme Stonks in general.
I've identified +1 more mostly accurate date where some meme stocks (but not all) actually run.
The dates you want are as follows:
-These two dates are a set. There will be a decent single day run on one of these two dates. I personally think it's August 2. The only way this moves to Aug 8 is if some big market event happens between now and then. If you're gonna play this, at least don't get FD's and go at least +1 week out further. The moment you see the run happen, take profits from your long calls and get puts 2 weeks out while the IV is still hot for calls. If you wait and buy after the call IV and prices cool down, you're gonna be buying puts at not so very nice prices. You want to buy the reversal just before it happens, not after.
*02 August (Most Likely)
or
*08 August (Less Likely)
or
both (Unlikely)
-This is the regular GME quarterly cycle run we've talked about here since last year. The behavior is always slightly different but the critical part of the trade is always the same. Around the 23'rd give or take a day or two, GME will pop to something like $40 or $45 or more for a few days and then drop. Since everyone is aware of this at this point, i'd expect NO run on 23-26 as everyone's gonna be saturating weekly FD's instead of 2w or 4w out. This will cause the usual run just before close on Friday 26 Aug and a run into the next week due to call gamma having to be hedged in the last moments of the market. Then the T+1 from option settlement hits everyone on Monday but it really doesn't and it hits the market on Tuesday as per my previous DD on market mechanics.
If you're going to play this one, be safe, due to degens playing FD's e.g same week expiring calls, the price may crab to kill everyone's FD calls and will instead move the week after.
*23-25 August (Likely)
*30 Aug (Likely)
How i'm gonna play this event?
-Aug 2 or 8: I'm a degenerate, so i'm going to get OTM FD's for Aug 2 on market open on the same day.
-Aug 23-25 or *30 Aug: Been burned by the micro changes in these runs a few times so i'm getting OTM calls on the 19'th of Aug expiring around 9 of Sept.
Additional Info: I have weird signals from DTCC's swaps indicating that this year's September 16 ish and next year's March and April have A LOT of $$$ expiring in swaps. I do not know what this means or what it will do to the markets. I have leap calls out to 2024 that are ITM to ride those dates in case something crazy good happens. That's why i'm not extending these August calls to September's OPEX and SLD period. I don't know what's gonna happen in September, but i just know something will. I don't know the direction.
Here's an old version of what i wrote that explains my thoughts above.
www.reddit.com
Keep in mind the 23-30 Aug run applies to most meme stocks. I'm onboard with GME and BBBY on this since only the few top meme stonks tend to move both on the start of the month and near the end of the month. I don't do AMC.
WARNING: I wouldn't buy anything right now as it's the period where stocks get knocked down. If you're going to play the above, wait till the last day before doing so. Buying from now will just burn a LOT of theta.
NFA
Gamestop about to popGamestop is breaking out the pennant it formed since February 21, just after 4:1 split, could it achieve 120.64 next?
GME looking to uptrendsetting up along with peer AMC showing a confluence
of EMA9 EMA21 VWAP and cloud-piercing with
relative volume oscillator confirmatory,
Options put call ratio about 0.40 with 90%
volatility.
Might be worth watching.
Maintaining it's triangle, let's see if it breaks outNeed rsi above 50 and macd above 0 for momentum
Consolidation above 40 would be great start for it to climb higher.
1.5 years ago - What did I tell you? Hate to say it but after such a long time, and me back at beginning posting & warning ppl that GME isn't going to squeeze and here we are.
Still could we see a retracement after this sell pressure, yes I think GME could retest even 77$ but still not an indication for me that price will blow up.
It would be a natural retracement after a year of bearishness, so some kind of retracement is due.
Yes I heard about the NFT launch, honestly NFTs aren't solving anything and please do read the small letters since most of the time you don't actually own the NFT itself.
$GME Golden Cross - around middle of AugustAfter the death cross on December 15th, it looks like the cycle has run its course and like the 50 day moving average are about to cross the 200 day moving average around the middle of August giving us a Golden Cross
AnalysisOn GME today we will have a big probability of an uptrend after the breakout of the vwap indicator and the resistance line.Thanks.
GME Ponzi about to go downHello, GME is basically a Ponzi and i dont think they can come up with some bs synthetic hype that would push gme to new ATH´s.
Indeed i think GME currently sits right at the resistance and it is propably a good short entry here.
On its way down i expect GME will propably be target for new pump and dumps, so i would propably close short arround green curve.
Would only invest what iam willing to loose tho, shorting meme stocks is still risky/meme trading.
Personaly not trading it because i got no broker to short it, but propably still a good setup with low leverage/tight stoploss)
DYOR
This will propably trigger the GME holders lol...shitstorm incoming xD
Please leave a like =)
AnalysisAs you see on this chart we will have a big probability of a downtrend after the breakout with force the vwap indicator.thanks.
SPLIT DONE! Still Waiting for a clean break of the Doom DoritoBull Case remains, I am hopeful the Doom Dorito will finally break up
First full week after the split next week.
Multiple brokers from around the world have yet to deliver all shares saying that shares could take up to another 4-5 days to be delivered.
FTDs have been increasing from June that are coming due now, will be interesting in seeing the next release on the 30th
Borrow rate remains steady this weekend at 129% to over 300% according to Ortex.
Technically it still seems like a massive 1.5 year spring is about to be sprung.
If there is any other real world game changing announcement this week then it it can only add further pressure to breaking the Doom Dorito.
trading view isnt showing the right price movement trading view isnt showing the right price movement
($GME) has a Stock Split (-76%) (TradingVIEW Error)If you have seen that GME has a catastrophic drop, don't worry GME will split for 1/4 of its value so more investors can invest in their stock.
GME 7/1/2022No More Games
Its going to be a "short" summer for these bag holding fanboys.
GME Daily chart Analysis
Please see my previous post for analysis
will be adding to my existing short trade
Entering trade short
Entry: 121.79
Stop loss: 155.20
Target:78
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."
