GME rally stalling
Updated
each spike has held the trendline and resulted in a large pullback. Yesterday we had an intraday rally up to nearly $200 but closed 10% lower at $179. that indicates recent momentum is probably over for now. So move up trailing stops or cut your position IMO. book some profits if you were in this move. Take maybe 2/3 off the table and let the 1/3 run for a free bet, again my opinion. RSI overbought at 80.
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So we got the predicted move lower now what? Looking at past spikes once they fail there is not much attempt to have one last pop. AMC does this, a big spike then a big fall before one last spike higher fails. GME seems to just come straight back down.
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