GME may continue the climb, but is the risk worth the candle?The advisor Market Miracle generated an input signal for the title GAMESTOP $GME at the price of 237 USD with a target of 315 USD.
The company is known by all for its capillarity on the territory but also for the recent events that have seen the value of the action literally skyrocket and not because it is a particularly healthy company.
In fact, its balance sheets are certainly not the most rosy but the value of the stock has risen and climbed again on strategic plans of the company that provides an online reconversion of their business and thanks to groups of traders who have recognized in GAMESTOP a possibility of Speculation actually managing to bring the title to unimaginable levels.
But the risk is worth the candle ? This is what every trader should assess at the time you operate on the market, the risk of getting stuck in a stock for years without seeing any profit but only losses is not in my humble opinion properly evaluated.
Then surely the title will go up again and maybe even the forecast given by Marketmiracle will prove effective giving rise to profits but I personally prefer not to betray situations like these.
According to the graph the situation is compatible with the one reported Marketmiracle for which I expect in the short a movement of the prices like those designed by me on the chart, but I will definitely not take positions.
This idea is based on the signal generated by the Marketmiracle advisor whose link you can find by scrolling at the bottom of this page.
Gamestopstock
GME Weekly RSI Turning Up STILLThis is an update from my previous post flagging the potential for breakout:
You Won't Believe What the World's Most Beautiful Girl Looks Like Today
...WHAT A MOVE. Looks like it's ready for more as we are not really even in overbought territory yet.
Do we enter my upper trendline and push for $500? I think so...
A big move for GameStop is awaiting Its exponential moving averages are completely congested, it will soon be looking for a way out in some direction.
It has a descending volume, which can make it more sensitive to any sudden movement.
Anything can happen with this stock. If it goes up, I think it would go to at least $350 and if it goes down, it may drop to $100.
In the last 2 occasions the stock maintained a strong correlation with the VIX (that is, it rises when there is high volatility), currently this indicator rebounded slightly after touching 16 points, if the rise continues and there is a significant rebound (at 30 points or so) may GameStop do its thing again as a backup asset.
The deadline for something like this to happen is late this month or early May, so it won't be long.
NYSE:GME
GME Gamestop Bullish once again???If you missed my last GME Gamestop post that perfectly touched the target:
Then you should know that you can find $315 option calls for GME Gamestop for March 26.
Do you think GME still has the fuel for another bull run??
I`m looking forward for your opinion.
Meanwhile, if you are also interested to test some amazing BUY and SELL INDICATORS that i use, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
A possibility...So, the red key there I put next to a segment of red line. When it comes to these pennant continuation patterns, my understanding is that when they complete they go up by roughly the measurement of the left side (flat side) of the pennant. That segment of red line is the same length as the green arrow over on the right.
What I'm thinking is that the pattern might complete at some point along the horizontal green line above the pink arrow, and from there go up roughly as high as the length of the back of the previous pennant.
Just thinking out loud here, folks.
Happy to hear your thoughts!
ENDGAME - GAMESTOP - $GME - PT: 2000I believe that with GME... We are witnessing a complete failure of the MM to control the SP... A true free market.
It appears that the squeeze has not been squoze...
Retail Impulse Wave 3 is coming.. You must hedge in the "real" market.
I have forecasted that SPY will correct in Mar-Apr. and institutional liquidation due to another impulse wave in the BANG stocks will cause this...
Vlad Tenev admitted that they were about to have a liquidity issue during Wave 1.
The sharks smell blood in the water and they will pounce again... even harder this time.
Do not underestimate this... traditional investors.
TECHNICAL VIEW:
- The beauty is that without algorithmic pressure... it is possible to have PERFECT Elliot Motive Waves... See my previous forecasts on the BANG Stocks.
- Wave 3 PT: 765
- Wave 5 PT: 2000