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Gmestock

Predicting Elliot Wave and Fibonacci for the next WaveAfter completing the Cup and Handle pattern fully, it looks to me as if we completed a full impulse wave 12345 with a ABC correction. This perception is also supported by the perfect fibonacci levels. This suggests we are about to enter a new cycle. Since the Earnings report was incredibly bullish (25% sales growth, 49% earnings beat) and the surrounding news (new CEO from AMZN, new CFO from AMZN) is all very bullish, I expect another impulse wave to begin. We might have a flat correction in between first, but I don't expect too much downside. The next movement I expect a 1 wave retesting 300, but getting rejected, retracing to 240-260. Then we will see the long 3rd wave, achieving a new ATH, finally in the region of 620. Before I expected this to go between 600 and 800, so this is a fairly conservative estimation. The wave 4 correction will take us back down to the 400s before pushing for the wave 5 to over 1k. Important to note, that after this strong move upwards, we will see a triangle wave or running flat correction first, with 3-5 weeks of sideways trading. This will not invalidate the idea. Also another step backwards below 232 will not invalidate the idea, just change the numbers slightly. I consider this idea failed if we drop below previous wave 1 which is around 180.
NYSE:GMELong
by baumulrich
2
GME Breakout Day 10 - Final TestAlright guys, confirmed amount of "normalized" voting shares released via the 8k is 55 million. Is this the number of shares that actually voted or is outstanding? NO. Gamestop cannot report a number higher then the issued share count. Based on the number of mostly foreign brokers that blocked voting and brokers that allowed voting and advised only a fraction voted, we can guarantee that that number is significantly higher then the reported 55 million in the 8k. And to be clear, Gamestop is told how many shares actually voted. I don't think they are allowed to ever directly release that information. What does this mean? Nothing has changed, the squeeze is still on. Overview: Here is the long range shot of where we stand. The After hours drop from 302 to 260 touched briefly the DEC 2020 straight line log trendline then bounced hard on 2.5 million AH volume. 260 was the price just 2 days ago. I have a high degree of confidence that bullish trend is very much intact as this drop occurred after hours. The only short term trend that was violated was the trend from June 7th which isn't a big deal. Expecting pre-market 9/10/21 positive as long as the trend from DEC 2020 remains intact as well as continued increases in OBV.
NYSE:GMELong
by testmuffin13
7
GME Breakout Day 10 - Throttle Up Flight CheckTomorrow is the the shareholder meeting Further tomorrow is 10 trading days from the initial spike from 180 to 210+ from May 25th The previous spikes were> January 13th we had the spike to 25 dollars~, then 10 trading days later we had the spike from 150 to 483 February 24th we had the spike from 38 to 80 dollars, then 10 trading days later we had the spike from 250~ to 351. June 9th is 10 trading days after May 25th. We have a much higher starting base, 180 as opposed to 6 dollars in January and 38 dollars in February. This means massive installed retail base, much of it is willing to hold to high amounts. Today was also the highest LOW ever for GME. the lowest recorded was 281 today. Even in January the swings were massive but the lows were lower than today. 3rd highest close ever, the only other 2 days were in January. I sit here trying to not confirm my bias too much but with the amount of tested unfilled gap ups in the last 10 days I think we will be in uncharted territory soon. Good luck, and hang in there.
NYSE:GMELong
by testmuffin13
GME Breakout Day 7 - Stage 1 Separation in 6 daysYesterday was the highest close since January 29th with today being a second close in a row over 250. At this point being so close to the 9th, there is a large portion of people waiting for that all important answer to the only question that matters. How many shares voted in the shareholder meeting? We will find out next week and while I have enjoyed this breakout, I have been rolling over my call options to shares, as options are currently very expensive. I will be buying the whole time though and have not sold any shares, just been rolling in option profits to more shares. Short term technical: GME currently on a run since the 24th and todays close is sitting on the trendline. A hold tomorrow should be a close of at least 265. I have moved my "moon" target to June 9th and 351 dollars which was the March high, The gap up is still not filled (217-222) and I believe there is currently zero chance of that happening. There was a gap down today which should also put pressure on GME to keep rising up. Good luck and hang in there.
NYSE:GMELong
by testmuffin13
1
WHERE'S THE THIRD?The percentage of short volume is about 60%, is it high bruh! it's high, is it short squeeze bruh 1000 videos in YouTube said so and the reddit said it too. So will it fly don't know. from the pitch fan, it predicted the price of GME cleverly reach $260s, so based on pitch fan it can be said that, yeah it will fall first before continuing the path to the moon. Well GME price is based on the community, so its hard to say just from reading the chart, because the chart itself was broken with the short squeeze before. So is the chart still worth seeing? Nah, its already become a mess. it needs another 10 yrs before the chart of GME considered useful. But from the analysis of mine only (all the videos I watch ~about 100 videos said that it will fly to 10 million 🤣, so that i cannot say much from the videos hahaha). From my analysis, GME will return to 136 first, don't know why I feel it will happen hahaha. Why it falls? from what I see in the chart GME likes the price of 136. In the chart (fact) there are already 5 reversals in 136, so why there's no sixth? Well I cannot say it will fall because stock are based on people mind. But, from chart itself I can say it will make sixth reversal in 136. Because 136 a beautiful number for GME. So, If LONG, Open=now or never TP= to the moon ~10 million if Short, Open= in the past, 268 (its too late 😂) TP= now or when GME reaches 136. Better now before the crowd make it fly to the moon hahaha.
NYSE:GME
by dumantri
GME Breakout Day 3 - On TargetOBV confirms move upward Next major step in the breakout is 300 and 350 which was the previous high before the death drop to 170. Large amounts of calls are coming ITM is only going to push this stock further up. Get ready for those margin calls that should start happening Friday/Tuesday. PS, if you see news that "shorts" have lost 6 billion dollars or whatever, that doesn't mean they covered, those are paper losses. Its just going to get exponential once the shorts are forced to cover. And we haven't even discussed the NFT.gamestop.com website which if dividends are paid in a brand new crypto then that is game over for short sellers. Good luck and hang in there.
NYSE:GMELong
by testmuffin13
5
196 is next resistance for GME196 was the high in April, so that is near term target. 2 days closing green over 180 after not being able to break it for 3 weeks is very positive. Tomorrow is T-21 from 4/20, that was a big drop day with 4.7 million volume which means up to 2.9 million shares shorted at 62.2% SI that day. Its possible a large portion of those shares need to be covered tomorrow which is probably why GME was attempted to be dropped so hard today. I know were all waiting for the big spike day, me too. I am not sure we will see a big spike day until a big player gives up and covers or is actually margin called. As long as the price continues to increase that margin pressure will continue to mount. Hang in there!
NYSE:GMELong
by testmuffin13
1
Just because I'm early doesn't mean I'm wrong.Just tested the descending downtrend. A full break tomorrow should be confirmed shortly. A rejection would mean a retest at the end of next week. Some other interesting info. There is 4 million shares in way OTM puts expiring next week. These are opened under 30 dollars. These are rumored to allow hedge funds to not have to deliver FTDs right away. In theory these will be unable to be rolled again as some recent DTCC rules have put a stop to this practice. there is another 38 million shares in way OTM puts expiring July 7th, and another 15 or so million expiring Jan 2022. So possible short exposure of at least 60 million, on a stock with a 30 million float. Just some food for thought. Hang in there.
NYSE:GMELong
by testmuffin13
3
GME's day is fast approaching, will tomorrow pop off?Some good DD from Reddit. "GME closed $0.01 from previous day close - This has happened only two other days in the past January 12th with a delta of $0.01 and February 23rd with the exact same closing price as open. The next day after each, the price doubled." Lowest volume day since November 2020. I feel GME might be on a slightly longer timeline this time around. There are bigger things in motion. It could pop tomorrow, it could pop Friday. Personally I feel it could wait for Monday. Perhaps some big news or another big hedge gets margin called and GME gaps up. Who knows, its a weird time. Either way its not going down much, it will get bought very quickly. $200 is the trigger point. Good luck and hang in there.
NYSE:GMELong
by testmuffin13