Wsb
Stocks - GME Wave 3 600 Wave 5 1000+Idea for Gamestop:
- GME broke out of a Trend Bull Flag and is in a a Trend Cup & Handle.
- Not to be outdone by AMC, GME should see a very similar performance.
- MM spread will soon be broken and they will soon be deep underwater.
- Time frame of Wave 3 is this summer and Wave 5 should be EOY.
- Long term log trend:
TP1: 600
TP2: 1000
TP3: 2000
PT: 5600
GLHF
- DPT
ABNB Summer runner + new highsABNB Daily TF
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Analysis
Strong name and after 2021 Q1 earnings, reporting revenue has already recovered to pre pandemic levels... $ABNB is showing strength for stockholders and more growth to come with International travel still on the verge of recovering. Possibly see an increase in $ABNB bookings with travel activity increasing as summer approaches. Now... after nearly correcting 40% from ATHs, looks like we have reached a nice bottom consolidation in 129-139 ranges with a nice breakout to 152.70 and building support around 144 level. Nice bull flag set up with two daily inside candles to start the week. These next couple days will determine direction. Ideally would like to see this push to 151 by the next two days, and open the next day above the previous days close for continuation to new highs (over 152.70 is breakout level).
Targets: 155, 162, 173
Key Levels
Support: 146.38, 143.88, 141
Resistance: 151, 152.70
Trade Ideas
1.Shares
2. 1-2+ week out calls (atm/ otm 5-10pts out *further otm buy more time*)
$TLRY PT 300 and higherWSB plays
Tilray Inc. engages in the research, cultivation, production, and distribution of medical cannabis and cannabinoids. The company offers cannabis-lifestyle and consumer packaged goods; and hemp-based foods and alcoholic beverages. It offers medical cannabis in extracts and dried flower forms; and cannabis extracts, including purified oil drops and capsules. The company supplies cannabis extract products to patients, physicians, pharmacies, hospitals, governments, and researchers. It has operations in Canada, the United States, Europe, Australia, New Zealand, and Latin America. The company was formerly known as Aphria Inc. and changed its name to Tilray, Inc. Tilray Inc. is based in Leamington, Canada.
The Shows Over for AMC!!!AMC has made an impressive run up. We've now completed a blow off top creating an evening star formation with a gap up and gap down. Not shown on the 1 hour chart is 5 waves down completed for Wave A and targets around $16 for Wave C, which also around the $20 breakout level before the blow off top. My target is $16-$20.
$CLOV Update, Important Current Factors Finally popping like it deserves, options playing out nicely with this one. Very important that we hold around this 10.50 level being the 38% retracement level from the ATH in January. I would like to point out that the short interest is 31% of the float, with insiders not being able to sell shares until $30 a share. There are plenty of really informative DD posts on reddit that I fact checked myself that give all the in depth fundamentals, so I will link those as well.
Link:
www.reddit.com
As of technical's, CLOV showed it could easily break though that 38% retracement level reaching a high today of NEARLY 11.20. The fibonacci's dont mean panic sell if it dips below 10.50, this is a daily chart, so with a close over or around 10.50 today, this would give me a lot of confidence in this reaching the next Fib zone which I highlighted in purple near the 11.86-12.00 range. 10.20 is support for the day today, 6/7.
According the research that I conducted myself, as well as others research, nearly 90% of ALL shorts are in LOSING positions around the $11 price range, which can potentially mean gamma squeeze.
The company itself has strong fundamentals which are highlighted in the reddit post I linked, once market share is captured and has even a fraction of the what other insurance companies have, this trades near $100 easily IMO. That is WITHOUT the squeeze potential.
Fib Zones with my targets, as well as support and resistance accordingly.
Z1: 6.35 - 8.95
Z2: 8.95 - 10.57
Z3: 10.57 - 11.89
Z4: 11.89 - 13.20
Z5: 13.20 - 15.07
Z6: 15.07 - 17.45
Positions purchased June 2nd:
6/18 $10 Calls
7/16 $15 Calls
8/20 $30 Calls (Leaps)
Amc topping signs on multible timeframesFirst let's look at the Daily (left side):
- We hit a RSI of around 96 the second time and are highly oversold. The first time it market a temporary Top!
- Normally a stock moves in Waves. We detached from the MAs and are likely to return to the 50 ema earlier or later.
- Volume Analyses also shows signs of excessive bullish volume we normally see on overshooting tops.
Let's look at a shorter time frame now (4h - right side):
- We see a weakening RSI.
- The Trend has not broken down so far and the 9 ema is still holding. I suggest to at least set a stop or Trailing stop below here.
- The VolumeAnalyses is showing sell signs (red triangle down)
Conclusion:
In case of a pullback the first "Volume support" is around 15. Which is marking the top of the prior re-accumulation phase.
A backtest of the "last point of support" is normally needed to confirm the bias and regain strength for the next move.
The bullish scenario would be a pullback on low volume, that is holding the support zones.
WKHS Recent Downtrend Breakout - Important LevelsAfter 3 months of downtrending, we finally pushed above the wedge and over the POC (Point of Control)
With publicity from WSB and a boom in volume, there is big potential for WKHS to spike to the 20's and higher.
A bull flag can be identified on the 30 min chart with the end of Friday leaving us sitting on an important level of support.. which is comforting.
Monday premarket will be the deciding factor for if we continue higher or potentially drop back into the wedge. We have a gap fill around the 28.00 area, but this is out of the question until we get over 21.03 (Second Target).
Here are the levels I am looking at:
Entry - 13.48
1st Target - 15.68
2nd Target - 21.03
Stop Loss - 12.33
Wait for a bounce off POC and breakout from 30 min bull flag @ 13.48 for entry. This is a simple play, no need to make it complicated!
$GME - Is it go time? (Not a DD post)Hey all,
Not a DD post as i think the rocket is on it's way up already, so what's the point right?
I think we're in fact trading on Max Pain even though many people (including myself previously) are now convinced that we're not. I've collected my own Option Flow data and compiled it and realized that the max pain for the OI of the past 2 days is $290. For the price to drop significantly today there must have been new excessive call/put buys or actually contracts being closed due to the new OCC-003 coming to effect today which increases market makers collateral requirements for options. This would mean it would be much harder for them to keep kicking the can down the road using deep ITM puts and married puts.
I speculated that there would be a sort of flash crash when wer'e near $300 on one of my reddit posts 1 day before the actual mini flash crash from $292 down to $260 happened. This assumption was based on the HUGELY uncommon amount of ITM puts at $300 purchased on the 23'rd of May for $61 million premium dated to expire in 2022 and 2023 January (lmao). My assumption was that somehow exercising these would flash crash GME, but i think that's completely wrong, i think what actually happened was that they dumped/closed those contracts yesterday with something like 95% loss which caused the other side of the trade (algo) to dump the shares it was hedged with and this was likely the reason behind the drop from $292 to $250 ish yesterday.
Today 3'rd of June i assume the reason why we're a bit down is that because more contracts are being dumped due to OCC-003 coming into effect today EOD. If they don't dump them, it'll mean insta-margin call tomorrow, so they have to dump them or at least that's the assumption i'm making. By dumping those contracts they're severly affecting the Max Pain point between call / put open interest for GME which is likely the reason why we're moving so erratically.
Jefferies has also restricted short sales on GME today which is quite funny because of it's timing with OCC-003's arrival today. It says a lot.
I think the rocket is off and is only a few meters/feet off the ground right now. If these levels at $240-$250 hold and we bounce off upwards from here then that's fantastic news because the GME chart is likely to be fully vertical by the end of June as the price is moving up logarithmically right now and that's bloody insane. ~$250 is the bottom of this logarithmic/exponential curve.
Let's see what happens, strap up, lay back and relax and prepare yourself for a generational wealth transfer.
I'll be doing a DD write-up later on as i have too many theories on how they've been able to game the system for this long and how it's coming to an end for them due to the recently introduced new regulations under the SEC, FICC, DTC, OCC, NSCC etc. I've contacted the SEC in regards to the deletion of regulation SR-DTC-2021-005 and requested a FOIA update on it. This should get the wheels turning and questions asked on who deleted this 1 regulation that literally kills share rehypothecation.