GME weekly chart showing that the stock has been down for 8-weeks in row including the current trading week.
If it holds, this 8-week long downward streak will be a new record - the longest consecutive weekly print down EVER for this stock... Considering the massive amount of retail bullish interest it seems very unlikely that this trend can/will/should continue. Further many indicators are supporting a bottom/reversal at current prices.
VAPL weekly - showing a steady decline in bearish volume accumulation since this past summer, as Bears seem to be running out of ammo to affect the price. Perhaps the realization that they need to eventually cover is finally taking hold?
RSI and Multi-timeframe Stoch both at extreme lows on the weekly. You can see how the share price has reacted previously when these indicators drop this low.
Woodies CCI (not shown) also hit an extreme low level (sub ~200s) earlier this week on the daily, further supporting a near term bottom and turn.
Fib circle using the last mini-rip ending in November 2021 shows the GME share price is currently finding support near/at the 3.618 fib associated with that run.
Given the over extended downward streak of 8-weeks, the various indicators, and related technicals the reversal in GME should be soon, swift and glorious.
However it appears one of the main players noted to be heavy on the short side just got a cash infusion... How much more shorting does $1.15 billion buy? Sadly we are all probably going to find out. Link: www.swfinstitute.org...capital-and-paradigm
Holding XXX.
Not financial advice.
If it holds, this 8-week long downward streak will be a new record - the longest consecutive weekly print down EVER for this stock... Considering the massive amount of retail bullish interest it seems very unlikely that this trend can/will/should continue. Further many indicators are supporting a bottom/reversal at current prices.
VAPL weekly - showing a steady decline in bearish volume accumulation since this past summer, as Bears seem to be running out of ammo to affect the price. Perhaps the realization that they need to eventually cover is finally taking hold?
RSI and Multi-timeframe Stoch both at extreme lows on the weekly. You can see how the share price has reacted previously when these indicators drop this low.
Woodies CCI (not shown) also hit an extreme low level (sub ~200s) earlier this week on the daily, further supporting a near term bottom and turn.
Fib circle using the last mini-rip ending in November 2021 shows the GME share price is currently finding support near/at the 3.618 fib associated with that run.
Given the over extended downward streak of 8-weeks, the various indicators, and related technicals the reversal in GME should be soon, swift and glorious.
However it appears one of the main players noted to be heavy on the short side just got a cash infusion... How much more shorting does $1.15 billion buy? Sadly we are all probably going to find out. Link: www.swfinstitute.org...capital-and-paradigm
Holding XXX.
Not financial advice.