GameStop (NYSE:GME) is on the watch list because I still enjoy watching it trade. As you know, there are no fundamentals to support such a rally, and I'm almost sure that will end badly for a lot of newbie traders that are not aware of how the stock market works in euphoric times. Investors who buy on hype can be left holding the bag. GME remains a highly liquid, volatile stock that can be utilized to make quick profits. There is nothing wrong playing this stock, as there will be a firm bunch of believers buying into this hype, but be sure not to be holding this when the music stops, and the chart seems to be saying that the music is about to STOP. If you're new to trading, avoid this battle between giants where only you will lose, they know very well when to exit, you not. this article is just to help you, because in the past I was also a victim of these schemes. The stock is very overpriced for the results it delivers. Please consider this a friendly message. Never believe the hype. Enjoy it, But never believe it. Just trade it and you’ll do just fine. From a technical standpoint, the stock is very overbought and over hyped. The stock will fall sooner than later. The RSI history speaks louder. Notice that everytime the RSI hits near 90 it drops. I would like to end this article saying that i know how to manage a losing trade, but most of you do not. Don't be greedy / play smart. Good luck all.
Comment:
can you just imagine the losses between GME, BB, BBBY? I actually feel bad for those folks. Many newbies sucked up into that stuff.