My Force Accumulation indicator is showing that institutions began massive shares-accumulation since the pop-off from $12 to $17s. Have a short-term target price of low $20s. However, based on the amount of accumulation, it's possible that institutions on the long side of the trade are prepping for an actual squeeze (possibly a gamma squeeze?) and we blow past resistance on the way up.
Short interest also seems to be increasing to make it look like GME falls when the SPY falls. In my opinion, they are trying to hide GME's launch within the general market's volatility. GME made a +50% this month, and media didn't bat an eye. One more +50% takeoff and we could be reaching close to the $30s.
Strap in boys!!
Short interest also seems to be increasing to make it look like GME falls when the SPY falls. In my opinion, they are trying to hide GME's launch within the general market's volatility. GME made a +50% this month, and media didn't bat an eye. One more +50% takeoff and we could be reaching close to the $30s.
Strap in boys!!
Comment:
Wowee, GME fell another -4% while gapping down! We also saw more small pockets of bursting volume. Nothing huge, but the time between volume spikes is getting tighter. 5.18 is also touching another demand zone / unmitigated order block from Dec 13, 2023. I have absolutely no idea who is in control of this market. The price could blast downward tomorrow, or it could just consolidate and ladder back up. This would be a great place to start DCA'ing imo.