GameStop - GME - Are you ready to get in the Game? GME found support at the lower moving average. The last time GME touched the lower moving average there was a big move in price. What will happen next? Move up or move down?
Wave 5 of C has already retraced .786 @ 184.47, the significance is 80% of the time that threshold is exceeded it will retrace more than 100%, since this was an upward correction within a bearish impulse the 4th wave correction that began at 158.01 is in all probability done @ 195.51.
5 waves of corrective C of wave 4 appears to be complete at today's high failing under C= 1.618 x A @ 195.94 and the previous 4th of wave 3 @ 197.47 as anticipated, high today 195.51. Breaking under 181.46 will confirm a 5th wave well below 158.01 is underway. If there is a last breath to C, another 4-5 combo, it should be contained by aforementioned resistance