Up, Down, Forward for sureGap at 125 closed. My guess for tomorrow is to test or break 120. following the trend of the past few days. We have been setting lower lows and lower highs. I am still eyeing 112, and a possible gap fill around 94-95.
lot of volatility in the the overall market too. the markets responding to the big cap earnings is absolutely bonkers. I'm doubting reality. nothing typed here is financial advice and it's all a fever dream.
Remember its all priced in.
GME trade ideas
GME Falling Wedge PatternIf we don`t take into consideration the fundamentals of the company, instead we look only at the technical analysis, every falling wedge of GME ended up with a rally higher than 51%.
That could be our price target too, $174 (+51%).
Looking forward to read your opinion about it.
GME 7 Weeks Short, 4 Weeks Runup, 1 Week Turnover - A Clear CyclHere is the GME chart.
Vertical lines denote starts of periods. I have some fun triangles too just for giggles.
You'll see here a clear pattern. 7 weeks to short, 4 week runup, 1 week to I don't know what, restart the short cycle I guess. Given that the total is 12 weeks (approx quarterly) I think that fits pretty well with the quarterly options expiration. I don't really understand the cycles all that well but this DD is probably helpful to reread: reddit.com/r/Superstonk/comments/pb22oj/the_puzzle_pieces_of_quarterly_movements_equity/
Obviously we had two runup cycles back-to-back with 1 week in between in Q1 2021, and so I have PREDICTIVELY included 2 cycles for Q1 2022 as well. This decision is running loosely on the back of some DD I can't recall that showed the options/ETF cycles occurred twice in January.
It is ENTIRELY possible that the early cycle in March doesn't occur this year and that subsequently we are in week "1" and running headlong into a 7-week short cycle. It's also possible that as I laid out, we lead a second 4-week run-up starting 2/25.
I just like drawing #GameStopI just like to draw coloured lines and overlay current bars with history on the $GME 30 min chart.
Looks to me like another buying opportunity coming up until the next catalyst like Opex, Dividend record date, NFT marketplace.
In the mean time high inflation, rising interest rates, supply chain issues, component shortages, housing market crash, stock market crash, war. (All transitory, we're assured by the powers who are suppose to know)
Luckily RC had the foresight to buy a lot of inventory before supply chain issues started and high inflation kicked in. That can now be sold at the current inflated prices, still cheaper than the competition, supporting gross profit.
Not advice, do your own DD.
Elliott Wave Intraday Analysis: GME Is Looking HigherHello traders and investors!
Today we will talk about short-term intraday GME structure in which we see pretty nice and clean bullish setup formation, at least for a three-wave (A)-(B)-(C) rally away from the lows.
As you can see GME made sharp and impulsive rally in March that belongs to first leg (A). In Elliott wave theory, after every five waves, we can expect a three-wave pullback before a trend continuation. So, currently we are tracking an A-B-C corrective setback within wave (B) that can be slowly approaching the end, as we see it moving in final stages of wave C of (B). Ideal support in Elliott wave theory is at the former wave 4 and golden 61,8% Fibonacci retracement which comes around 125 level, so final subwave "v" of C can be still missing.
What we want to say is that we should be ready for more gains within wave (C), but ideally once current wave (B) correction fully unfolds. Of course, there's a chance for bigger or more complex wave (B) correction, but the count remains valid as long as it's above 77 invalidation level.
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GME Fib Levels and Gap. Nothing Has changed Like I told you,
Like I said,
Steal your face right off your head.
- He's Gone
Look at them Levels Hit. Read my past TA. Nothing has Really changed. Looking at it through a 3 hour view.
We touched the 1.61 in my short term fib levels. If we drop below this I am expecting a Gap fill @ $125. Possible bottom arround $112 to swing back up. Fib Traders like swinging between the .38 and .61
Become Bull closing over 163.
Still looking at a down side in the short/ mid term, or at least until June when the vote to split goes through.
Let me know your thoughts.
GME on the reboundThe meme stock still feeling vibrations from its huge bull run last year. Looks like it may be on a bearish trend that could reverse if the pennant holds true. If the stock breaks the formation to the upside, expect it to run up to the top trend line between $160-180.
RSI is not showing signs of Divergence so on the other hand, GME may continue down and test the $80-90 range support
GME EWT (1d) (April 2022)Gamestop Corporation (April 2022)
Just another update, hopefully this chart is a bit cleaner than last. I believe gamestop can crash to at most, $38 before making a wave higher again, although $20 ranges sound reasonable as well.
Tradingview has broken the fractal scaling in any of my charts older than April 2022, but I'm still going to attach the ideas that led up to this one below, some just might look broken when loaded as an interactive chart but the thumbnails should show the general idea.
My elliott wave analyses could be wrong at any moment , this is practice solely for educational purposes. Please do your own research as always!
Previous charts leading up to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
GME EWT (3d) (April 2022)Gamestop Corporation (April 2022)
Just another update, hopefully this chart is a bit cleaner than last. I believe gamestop can crash to at most, $38 before making a wave higher again, although $20 ranges sound reasonable as well.
Tradingview has broken the fractal scaling in any of my charts older than April 2022, but I'm still going to attach the ideas that led up to this one below, some just might look broken when loaded as an interactive chart but the thumbnails should show the general idea.
My elliott wave analyses could be wrong at any moment , this is practice solely for educational purposes. Please do your own research as always!
Previous charts leading up to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!