GameStopUpdated GME + Another Live?
In the Fibonacci retracement indicator, using the 0.382 level as resistance and the 0.236 level as support has specific implications:
0.382 Level as Resistance: When the price approaches the 0.382 Fibonacci retracement level from below, it often acts as a barrier that prevents the price from rising further. Traders view this level as a potential selling point where the price might reverse downwards. If the price repeatedly fails to break above this level, it confirms its role as a strong resistance.
0.236 Level as Support: The 0.236 level is considered a support level when the price is approaching it from above. It acts as a floor that prevents the price from falling further. Traders might look at this level as a buying opportunity, expecting the price to bounce back up. If the price holds above this level multiple times, it reinforces its status as a strong support.
Green or Red Dildo Party? 😂😂😂😂
0.382 Level as Resistance: When the price approaches the 0.382 Fibonacci retracement level from below, it often acts as a barrier that prevents the price from rising further. Traders view this level as a potential selling point where the price might reverse downwards. If the price repeatedly fails to break above this level, it confirms its role as a strong resistance.
0.236 Level as Support: The 0.236 level is considered a support level when the price is approaching it from above. It acts as a floor that prevents the price from falling further. Traders might look at this level as a buying opportunity, expecting the price to bounce back up. If the price holds above this level multiple times, it reinforces its status as a strong support.
Green or Red Dildo Party? 😂😂😂😂
Note
The most recent live event did not have any significant impact on the stock. Consequently, I believe that another live event immediately following the recent one will also have minimal effect. The initial surge in the stock price was triggered by funds that needed to buy back positions, resulting in a substantial pump.In my opinion, the recent increase was driven by funds from less-informed investors who purchased shares, expecting another run similar to the previous one. These investors did not realize that the current situation differs from the last pump. This appears to be another failed pump-and-dump scheme.
Honestly, I hope for another pump so that the unfortunate investors who bought in at $30 can have an opportunity to exit their positions.
Green or Red Dildo Party? 😂😂😂😂
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.