GME new bullish momentum LONG

Updated

GME on a weekly chart has clear the chop zone on that indicator and is now above the POC

line of the long -term volume profile indicating that bullish momentum is greater than bearish

momentum. I will take a long trade here targeting the pivot highs of 2022 for three quarters

of the trade and the base of the high pivots of 2021 for the reminder. 21.7 below the POC

line will be the initial stop loss to be moved to break even upon a price rise of 10% from the

entry and then changed to a trailing loss of 10% upon another 10% price rise. I believe that

GME is heavily shorted; Accordingly, a short squeeze could add to the push higher.

Note

News Catalyst cnn.com/2024/05/13/investing/gamestop-roaring-kitty/index.html

Trade active

Price is well above the entry now so the stop loss is changed to a trailing 10%. Full position riding the momentum. Call options did 10X and a partial on the 20 calls taken.

Trade closed: stop reached

Note

Bearish move with shorts revenge trading price down. Move to watch list. Keith Gill may still have another move.

Trade active

GME continues with bearish momentum. Holding and patient.

Note

GME moved down today . May be a reversal candidate with an opening bell pump on Thursday morning much like Tuesday 5/21.

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GME needs to get over 21.75 for bullish bais to dominate. Will watch for the same.

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that is to say based on the volume profile if GME can get over 21.75 it has a good chance of squeezing toward 30

Note

while moving up through a volume void in the profile ( low volume area between two high volume nodes)

Note

GME had a decent upmove today but still finished the week lower than the start.

My threshold to go long is 21.75 as per the POC line of the volume profile. Anything

between current price and that is more or less considered sideways chop. Time will

tell.

Note

if anything the rise to the bottom of the high-volume area ( purple jagged line) is
a potential signal for a short entry with $1.50 or more per share downside.

Trade active

Shares taken long Friday afternoon before the Monday holiday and again this afternoon. Holding full position watching for more to see if GME can conquer the
shorts with a bit of a squeeze.

Trade active

GME may break down and not get the anticipated mean VWAP bounce. Patience
required.

Note

GME launches again after falling after completing a $$ 1B dollar $$ share sell. Much cash in reserves. It will now try to take down some short sellers and gain some momentum. Nice pop for now.

Trade active

GME continues trending highest. Some shorts may be buying to cover and helping
the momentum.

Note

GME moving up approaching the first target.

Trade active

GME fell a bit. This is a good spot to add to the position. News of Gill's buying pressure helps keep the price stable and perhaps coiling for another push.

Note

Buy the dip then sell the rip. If you are a short seller these little dips are your chance to bail out and cut your losses.

Trade active

GME seems to be squeezing quite well.

Note

Adding more call options at the opening bell for June 21 and July 19th. May also add
in the midday NY lunch hour.

Note

Lunch hour EDT 11:30 - 1:30 because this is a typical volume fade and consolidation making for a stable price and less slippage in the order flow.

Note

Short sellers crushed today. Expect more of the same tomorrow to finish the week.
Too 25 % of the trade for massive profits. New targets of 65 and 8 on old pivots to the left.

Trade active

GME had a nice 30% move higher after the morning low. Volatility persists.

AwesomeAvani

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