Something is brewing in Gamestop $GME
Between now and 16th August I believe 
GME will move into the launchpad area before making new highs. I would expect this move to be completed before Friday 16th August.
My LIS is $17.50 but I feel we may only get as low as $19 before a move back up. Then it should be fireworks and rockets.
God speed space cadets.
GME
GME will move into the launchpad area before making new highs. I would expect this move to be completed before Friday 16th August. My LIS is $17.50 but I feel we may only get as low as $19 before a move back up. Then it should be fireworks and rockets.
God speed space cadets.
GME Trade active
I believe we complete the move down today and the wave 3 will start next week. To reiterate, my target is $19.71 put we can go as low as $15.53 which would be a perfect wave 2 retracement from the current highs. If we break the trend line at the $60's there will be no stopping it until $400's or $427 precisely (moon base 1).
Note
So it appears to be a great bounce from my $19 zone.
Up 2.5% premarket and volume appears to be building back up.
Based on this, I would say we start a new bull impulse move back up to $60+.
First port of call, back to $24+. Once we break $29, there should be no stopping this rocketship!
Note
In an ideal scenario I would like to see GME:
$25 by 16th August 2024
$30 by 30th August 2024
$40+ by 20th September 2024
Call options are extremely cheap at the moment for both small and larger accounts.
As an example:
August 30th calls for $30 calls - last ask was $27 per contract (small account).
September 20th $30 calls - last ask was $114 per contract (larger account).
October 18th $30 calls - last ask was $262 per contract (large account).
January 17th, 2025 $35 calls - last ask was $286 per contract (large account).
For clarity, a small account means minimal trading cash or margin available, short term expiry (1-2 weeks). Will likely sell for a premium play. When sizing for risk management it may equate to 10-20% of your account value.
A large accounts can size up and get longer term calls either in the money (ITM) or at the money (ATM). Would only equate to 1-10% of your account value.
You can view the options chain for free on Yahoo Finance; uk.finance.yahoo.com/quote/GME/options?date=1726790400&p=GME
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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.