GME Bullish Breakout of Wedge
After a long few months of trading sideways, and a couple of fake outs, it looks as though GME is holding it's bullish breakout of the wedge that formed the last 3 months.
Looking for a break of the $45-50 ish highs from earlier in the year and to settle in somewhere above that heading into the end of the year / early 2023. I suspect wall street does not want a bunch of retail investors (younger folks) using their Christmas money to lock in large buys at low prices. They won't allow those people to get in at these low levels. Look for one more major drop sometime in February / March when tons of basket swaps expire and to make the Christmas money buyers see some heavy red in their accounts (and a likely large bounce back up once those people are potentially shaken out).
Just for fun, not financial advice. I'm looking to enter 12/2 through 12/30 $25-45 calls and see what happens.
Looking for a break of the $45-50 ish highs from earlier in the year and to settle in somewhere above that heading into the end of the year / early 2023. I suspect wall street does not want a bunch of retail investors (younger folks) using their Christmas money to lock in large buys at low prices. They won't allow those people to get in at these low levels. Look for one more major drop sometime in February / March when tons of basket swaps expire and to make the Christmas money buyers see some heavy red in their accounts (and a likely large bounce back up once those people are potentially shaken out).
Just for fun, not financial advice. I'm looking to enter 12/2 through 12/30 $25-45 calls and see what happens.
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