GME Gamestop lost some traction on WSB recently, which made me think about a possible retracement to a support level that i might considering reentering this stock.
And that support is around the 130usd area!
I am looking forward to read your opinion on where GME Gamestop is heading now!
Gme is traded on thin volumes. Most of trading is done off market. You ve got to be extremely brave to short the stock. Its obvious from looking at the share price that is being manipulated.
I think this stock is 500% plus shorted (as Mr Hann on linked in alluded) and the story about short interest at 20% is hogwash
ogdabber
⋅
@FFG2501 this is why I’m still considering 250c’s even though this is possibly sliding through support
Mushroommilitia
⋅
When 200 shares sold drops the price 5$ and 20000 shares bought only brings the price up .50 cent its called manipulation. No one is selling price is wrong. Good luck
ogdabber
⋅
@Mushroommilitia not exactly. Price can slide on significant volume (bearish) and lack of volume, but price needs relatively significant volume to move up. Both 200 and 20k volumes are relatively weak.
I'm thinking 170-180 region is the bottom, former resistance now a good support line. But if volume stays low, we could see 130 region.
pechi123
⋅
@Turtle271, Not a full 5 waves down, currently in wave 5 of 3, another low towards 168.13 where 3 = 1.618 x 1 but may go much lower if wave 3 is in multiples of 1.618. Thereafter from whatever low, there will be a large 4th wave that will fail under 233.66 (not likely above 197.47) wave E of a bearish contracting triangle below a ZigZag down, complex correction or worse. After 4th wave, another 5 waves down in a 5th wave to much lower prices.