GME gap fillingGME didn't moon (from previous post), clearly. Really bad option chain setup for any real runs still. IV looking tragic still, but we all know the market will be taking that 2nd leg down soon so I can't see GME going up in the near term.
GME is super illiquid still.
Market is taking a turn down finally.
My target is $17.5.
Current I have ITM CCs between 17.5 - 20, looking to exit when they go OTM or before 5/15.
Finally, hoping we see a pump into next earnings after this dip. Use the time to collect some additional capital from CCs, CSPs at bottom, etc.
GME
GME 4hr - BB SqueezingWhen Bollinger Bands® (Yellow lines) are far apart, volatility is high. When they are close together, it is low. A Squeeze is triggered when volatility reaches a six-month low and is identified when Bollinger Bands® reach a six-month minimum distance apart. (www.investopedia.com)
Morningstar data is currently estimating NYSE:GME fair value at $48.42
Zacks' proprietary data indicates that GameStop Corp. is currently rated as a Zacks Rank 2 and we are expecting an above average return from the GME shares relative to the market in the next few months. In addition, GameStop Corp. has a VGM Score of A (this is a weighted average of the individual Style Scores which allow you to focus on the stocks that best fit your personal trading style). Valuation metrics show that GameStop Corp. may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of GME, demonstrate its potential to outperform the market. It currently has a Growth Score of A. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of B. (www.zacks.com)
GameStop has been cash flow positive for the last two quarters and delivered an average earnings surprise of 37.29% in the trailing four quarters.
GameStop Director Larry Cheng, who is paid in shares and does not receive a cash salary, used his own money to acquire 5,000 additional shares of the company's stock at market price. (www.thestreet.com)
A breakout from the BB squeeze to the upside ( HKEX:27 ) with high volume like on March 22nd may create a perfect cup & handle indicating another possible breakout to the upside ($32.80)
Not advice, only my opinion. Do your own due diligence.
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GME moon soon? v2Follow up to:
Like I said, breakout looks decent. We are testing the top part of the wedge, today is T+2 from our huge volume day, 3/22, but could extend deliverables till Monday. Looking to see options close today and have T+2 settlement (Tues-Wed PM) cause another pump.
Additional thing here in this chart is the CV VWAP Indicator. Taken from an old script I found on TV that was broken.
Author:
Adapted from: Detecting the great short squeeze on Volkswagen, Godfrey, K. (2016, February 18).
Shows some interesting leading indicator prior to GME's Jan 2021 squart. We have not seen movements of this magnitude since then. As you can see the indicator generally stays within the -50 to 50 rage, but we were magnitudes larger on 3/22/2023, similar to 1/25/2021. There are some other notable moments such as 3/23/2022, where we just ran up, then the indicator spiked, then we ran up again through T+2+2.
No guarantees but...
- EPS was positive on earnings
- still no 10-K from GME (why?)
- Liquidity still extremely low
- 66m volume day
I have calls :)
GAMESTOP Is today's jump enough to stop the bearish trend?GameStop (GME) has had a huge price opening jump today that hit the 1D MA200 (orange trend-line) for the first time since October 31 2022. That pump was short-lived and the price quickly resumed the bearish trend within the Channel Down pattern that it has been trading in since November 03 2021. Basically the stock has been inside a multi-year correction since the January 28 2021 historic high.
So is today's rebound enough to stop this bearish trend. The answer from a technical perspective is easy: no unless the price breaks above the previous Lower High of the Channel Down, which is considerably higher at $48.00. Not to mention the the 1D RSI broke above the 70.00 overbought barrier, and this has been a major sell signal inside this +2 year Channel Down.
The most it has risen these 2 years is +157.50% but that was when the RSI was already overbought. GME is a dangerous buy on the current levels. Either wait for a price closer to the Channel's bottom or above 48.00.
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GameStop (GME) hitting macro technical range In this video I go trough some very very generalised/simplified overview of GameStop financials and the stock chart.
I'm taking note of things that look good and things that don't from my personal perspective (hey! everyone has their own opinion).
As you have both going on but overall at this present moment while information doesn't change significantly I could say I'm very bearish on this stock but in the short term there likely a possible corrective move to get everyone hyped.
Tune in for the video for some entertainment and my general market comment on this stock.
BTC will see again 20KBesides technical indicators as you can see on this BTC futures on CME there's a price gap between 20360 and 21095 USDT. So far every previous gap has been filled again so I expect this one to be filled too.
On the other side DXY looks bullish:
If the trend remains the same BTC will likely see a correction.
Personal opinion: I think we still have to experience the effects of a real recession due to global inflation so I think that the real bottom is not in even though charts looks to have bottomed.
Good luck
$GME: Bullish Deep Gartley Trade Idea Remains ValidEarlier, GME hit the Stoploss level of the Previous Chart Idea, but it did not make a new low and has since gone back to the 0.886 PCZ level and is making a Second Level of MACD Bullish Divergence as a result. Due to these factors I think that this Bullish trade Idea is still alive and upon zooming out I can see that this could be a more Macro Double Bottom that could set us up for a Bullish Dragon Breakout in the coming weeks. If we break above the trend line we could see a rally to the 0.618 retracement, which would be a doubling of the current price.
GME Headed for Double Bottom Reversal as Market SlidesRegardless of what /r/Superstonk says, GME is headed for a Technical Double Bottom, which will lead to a "go-up". There's a bunch of other factors (go read what Superstonk has to say) that are probably going to make this stock rocket, but technically it should go up at this point. We may see it play up to nearly 30$ by the end of May.
At this price point of about 15, you can double your money in two months. Keep an eye on it. I personally just bought in I'm so confident.
$GME: Perfect Bullish Deep Gartley on the DailyGME may be setting up for a rally towards the $20 area as It's recently broken out of a long term up trending channel but has formed this nice looking Bullish Deep Gartley that could send it up to atleasat backtest the channel or the moving averages as resistance.
$GME - Run next week 28 FebTelling you that there's a run next week is a horrifically bad idea both for me and you. By buying GameStop you'll force whoever is selling you that stuff to go short in order to sell you whatever you're buying and that'll cause another one of those nice tumbles down to some dumb price like $14.
So here i am doing that dumb thing, telling you that there's a run next week which will cause the run not to happen because everyone knows now. A market watched never boils over...
Here it is:
imgur.com
There's the classic dip & wedge up. The market wil run up for 35-45 days with maybe a minor correction in between. The run starts any time within the next 4 days or 15 ish days. I'm betting that it's starting next week although it is also highly likely it will start on the 3'rd or 7'th.
AMC bounced off Fib 0.618 Levelon the retractment of the prior uptrend and appears
to be setting up a new uptrend with a K/D line cross
under the MACD histogram and rebuilding of relative volume
The last uptrend was 70% . Could this happen again next week?
Earnings were decent. Price is sitting above the support of
the Ichimoku Cloud and ready for more accumulation towards
a build of momentum.
I will play this with call options for 3/17 at a strike of $6.00
knowing the support of the fib level ( gray box on chart)
is above that. Hope for 2X ( 100 % profit) in 5 days or less.
Short interest - short squeeze potential - $$$
GME H&S?GAMESTOP is showing little to no buying pressure at this area of support AND has failed to create a higher high on the Daily chart. Look for short opportunities below $19. I personally would be looking for an short entry if price where to break support and return to retest it, causing support to act as resistance with an exit well before the area of demand (Green Line [ first big candle of uptrend ])
$GME - Down a bit moreYeah i think i figured this all out. Not revealing anything.
Basically:
-SPY moons today.
-GME/Memes don't move at all.
-SPY un-moons today/tomorrow into next week.
-GME/Memes drop more into the next 2 weeks.
PT for GME $14.xx
PT for SPY $437 today/tomorrow and then back to $387 by early March.
$GME - I was wrong... I was wrong. The run isn't over... I got faked out by the data in my last post/s. GME and the memes are going to pump more...
imgur.com
As you see it had reversed last week indicating we would flip to bearish this week. Then yesterday it re-flipped to bullish. I've honestly only seen this happen in June 2022 and i dont't understand what it means. All i know at this point is that the trend is your friend.
Also as you see here, it had fizzled out but then with yesterday's data it broke out. Yes it's a bloody breakout...
imgur.com
So yeah, i was wrong. Better get in. Also the rest of the market has also flipped to full on bear with no signs of slowing. I think this is the bull market even though it doesn't make any sense.
TLDR: There's MORE up for GME & the memes.