What we see here is the triangle formation that has been in the works since Jan 2021 finally coming to its end. The purple line here is the bottom of the triangle and can be considered to be the 'lowest' price point of the stock. I expect the downturn in price to continue till around Mid-October where it will either shoot back up to the top of the triangle then break past it OR continue beneath the purple line to end the formation. I expect it to go up based on other technical + fundamental analysis - and expect the price to play out very closely to the green arrows provided here. I've closed out my positions in GME months ago but will be looking to get back in if/when the price hits $170 again with a potential outlook of ~60% gains.
Comment:
Adjusted the Pitchfork slightly and it now matches the movements made between the 7th and 18th of October perfectly. I've re-entered the position already but will be looking to monitor the triangle formation's direction.
Trade active:
Yummy gains