GME has been getting sold off with the macro for quite some time and it continues to push deeper and deeper into dangerous territory. At this point in time, it has pushed slightly below the 0.382/0.886 Confluence Zone and is now at the 200 SMA, but with that, we can see that the Local Bullish Shark can extend into a 1.618 Extension, so the Breakout watch is far from over on GME though we are getting towards levels where one may leave it alone. I would say that if GME breaks below $11.50, there would be a very distinct chance of it dumping down to $9.5, but if it instead holds above $11.5 and pushes back above $14.00, then we could instead see GME make a rapid move up to $18.00, which would be just high enough to test the supply line of our Channel/Falling Wedge. From there we could possibly break out of it and go for the measured move, but for now, I'd say one would probably want to have a short-term position to take profits on at $18.00 and a separate longer-term position to hold strong until GME gets the big measured move breakout to $74 - $134
I'm constantly impressed by your depth of knowledge.
RizeSenpai
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@MyCryptoParadise_Nathan, Thanks, hopefully we get the positive price action we've been waiting for on this one. I'v so far found it interesting how it's managed to perform against the macro, the GME volatility has been very muted thus far so we shall see, perhaps this week if GME's got what it takes to go for it.
greekguy1975
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Ya'll have got to let this go already.
SeanW4
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@greekguy1975 hmm but it seems like people like games and computers, are you going to read the gamestop earnings report in a few weeks or nah