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GME trade ideas

GME Gamestop Technical Analysis and Trade IdeaIn a recent video, I covered a trade idea prior to the Gamestop (GME) bull rally. Since then, we’ve observed a significant bearish movement. I’m closely monitoring the current price level for another potential buying opportunity, provided that price action aligns with my analysis from the video. The market is currently moving sideways, and if we wait for increased volatility above and below the range, we might be able to capitalize on a bullish trend by entering a break re-test and fail of the range on the 15-minute chart if we see higher highs/lows forming. The video covers critical elements, including trend analysis, price action insights, market structure, and a potential trade setup. Always exercise prudent risk management when trading, and keep in mind that this information is purely educational and not financial advice. 🚀📊
NYSE:GMELong
by fxtraderanthony
13
GME Gamestop Technical Analysis and Trade IdeaIn our recent video, we conducted a concise technical analysis of GameStop (GME). After a bullish rally, GME became overextended, hitting resistance levels and subsequently retracing significantly. Currently, we’re closely monitoring key support levels. Our primary objective is to pinpoint an optimal buy entry point within this critical support zone, provided that price action aligns with our analysis from the video. As always, our video provides valuable insights into trade entry points, trend analysis, market structure, and price action. Remember that this content is for educational purposes only and should not be considered financial advice. 📈🚀📊
NYSE:GMELong
by fxtraderanthony
4
GME Gamestop Technical Analysis and Trade Idea👉 In this video, we closely examine GameStop (GME). The stock has been range-bound for some time, showing lower highs and lower lows, indicating a slight bearish trend. Despite this, my focus is on a potential long position rather than shorting the stock. We explore a possible buying opportunity if the price action aligns with the scenario discussed. If the price continues to decline, we will abandon the idea. In the accompanying video, we delve into the trend, market structure, price action, and other crucial elements of technical analysis. Remember, this video is purely educational and not financial advice. 📊✅
NYSE:GME
by fxtraderanthony
13
$GME Algorithm Buy AlertOur algorithm gave a buy alert today, and we entered a long position at 1415 for a day trade. In addition to our algorithmic signals, we incorporate other technical analyses to inform our trades. A downtrend line, for instance, provided added confidence in our decision to take a long position for this day trade. We monitor a handful of stocks, with NYSE:GME among them. It's worth noting that we focus exclusively on long positions and avoid shorting growth stocks like NYSE:GME
NYSE:GMELong
by AlgoTradeAlert
3
Another GME Rally?Overview Usually I stay away from meme stocks but when opportunity knocks, I can't help but check the door. NYSE:GME appears to be gearing for a double bottom pattern which may see another spike in the share price back to $65. I haven't extensively researched the idea I'm about to present so please take it with healthy skepticism but in my few years of trading I believe I've noticed a trend: when the traditional stock market is doing well, crypto and meme stocks sink. And when the traditional stock market begins to fall, crypto and meme stocks rise. I chalk it up to recycled profits being moved from one market to the next. Technical Analysis Dwindling share value on decreasing volume; MACD and MFI have retreated from overbought territory; MACD and RSI are both underneath their signal lines which suggests the next cross will be from beneath which is bullish (the question is when it will cross though). Because of GME's past volatility and unpredictability, it would be best to approach this asset like a lottery ticket. You don't expect to win, but it's fun to play.
NYSE:GMELong
by Shepherd_Investor
1
Time to switch from Momentum trading to mean reversion in GMENYSE:GME The latest Short Interest data has been updated recently by FINRA. Keep in mind that SI data always lags by two weeks as they are introduced. The SI data with a settlement date of May 31 shows that SI has dropped from 22% to 15%. This is a massive drop as it is the lowest number of shares short in nearly 2 years. This also explains (in hindsight) why the gap up on the next trading day (June 3rd) immediately fizzled as there was not as much juice to support the run as before. See chart image below for SI and other financials. We are now in dicey territory. GME is not a small cap stock; it's a $9.5B Market Cap. Investors reacted differently to it this time than they did the last time Redditors took this stock to the moon. Investors quickly abandoned their shorts. They are much less stubborn this time around than last time and certainly don't want the headlines. Thus I would argue that looking for momentum breakouts maybe reckless here. There is a good chance that this stock is done for and will peter-out back to it's normal downtrend. But whether it does or it doesn't, a mean-reversion trade is in order. Either as a dead cat bounce or as a setup to shake out unserious hands, lure in shorts and gather enough momentum for the next bullish attempt. Blue arrow at $21.54 shows minor resistance (TA shown on black & white chart) but I think we will get a flush down to the cyan arrow at $18.06. I will be looking to buy it there. Anyway, that's what I am doing with my money, you do you. Good luck.
NYSE:GMELong
by ConvictionTrades
2
GME - A local Higher High is LikelyHello all, just a man following those pennies. The structure I am seeing on GME hints at a likely higher low to form Thursday (6/13/24). I do believe that there's a significant likelihood we see a bullish sweep, and looking at this overall structure I do believe a higher local high (above $34) will be made. However, the long-term picture of this, suggests a likely fall in price after this next move. Will be watching to see how this pans out, but I plan on taking a low risk trade in the Morning given pre-market isn't a slaughter below $22.85 range. Who knows, sometimes GME moves so fast and with such volatility we could gap up with insane momentum within the first few trading hours leaving me unable to take this trade. Even if I were to go short via puts/stock on the rise, the risk and gamma squeeze would leave me disinterested. Let's see how tomorrow opens. The pennies suggest a higher low. have a good one :)
NYSE:GME
by ThePennyMan
4