William-trading

Gamestop. Going for a long trade gamble

Long
NYSE:GME   GAMESTOP CORPORATION
Gamestop is on a corrective course of action and while the dominant trend is still bearish , we believe that Gamestop will be making new high based on the technicals

First, the price has broken out of the falling wedge and price has clearly rebounded and closed above 61.8% retracement twice.
Secondly, there is a larger inverted head and shoulder formation.

Should price fails to clear above 5.00, then we will be looking at the next support/buying zone to long the stock again.
Trade active: Hit my TP 1. Gonna close half of my stock holdings and shift my SL

Comments

You saw it early!
+1 Reply
@scheplick, Hahaha. I did not expect it to grow to 400 bucks pershare
Reply
New high as in ATH?
Reply
@RealmWorld, No. All-time high is impossible. The dominant trend is still bearish.
Reply
RealmWorld William-trading
@William-trading, Okay was just wondering what you meant by new highs; thanks.
Reply
Thank you so much for your analysis! This really helps!
Reply
@Leal-AA I hope you had profited from this trade
Reply
Leal-AA William-trading
@William-trading, I did, Thanks
Reply
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