GME Ready for a Major Move – A Happy Christmas Move?GME recently broke out of a 3-year-old bull flag pattern, encountering strong resistance at the 200-week moving average (often referred to as the "big red"). After rejection at this level, the stock found solid support at the 50-week moving average, which is a bullish signal.
It appears to have formed a bullish pullback and is now beginning to move upward again. The stock briefly paused at the 200-week moving average once more, and now it needs to break through this level with significant momentum.
Once GME breaks above the 200-week moving average, it could trigger a powerful rally, potentially propelling the stock to all-time highs. At that point, it would likely become unstoppable.
The MACD and RSI indicators look bullish and remain far from overbought levels, signaling room for further upward movement.
With $4.5 billion in cash reserves, GME has the potential to become a standout performer in 2025.
Patience is key, as big players rely on retail investors to give up and sell their shares, making it easier for them to cover their positions.
