GME daily chart showing confluence of trend lines going back to and beyond the pop that occurred early last year. The price appears to be holding/reversing at these levels.
Volume indicator (VAPL-CM*) showing significant accumulation of shares recently. This bullish volume is occurring after the drop in price and isn't FOMO buying as occurred back in June and July 2021 when GME bulls chased higher prices. Indicates 'smart money' or at least long hedges are accumulating this equity in anticipation of a price surge.
And the price has held up well despite what appears to be new massive shorting that occurred in late November/early December 2021. Direct registration of the GME shares may be playing a role in this more recent volume dynamic, and overall daily volume remains very low, however the OBV (not shown) is still pegged to the ceiling.
The BBs are getting tight again but have a little further to go IMO before a blast off will occur. With many put options expiring OTM later this month - expect some significant price movements to the upside... ~1 to 3 weeks.
Not financial advice.
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Correction - the VAPL indicator is via Lazybear (LB) and not Chris Moody (CM) - my sincere apologies!
Good stuff! I agree with your outlook. If you don't mind me asking, what indicator is the "CM_TotalConsec_Up_Down_V2"?
Akksujean
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@mikewalsh720, It is titled in the Community Scripts Section as "Clearly Shows If Bulls or Bears are in Control!" Chris briefly describes it as follows: "The Two Versions of this Indicator I learned from Two Famous and Highly Successful Traders. This Indicator shows With No Lag Clear Up and Down Trends in Market by Documenting Clearly If Bulls or Bears are in Control. The Version In SubChart 1 Shows Consecutive Closes if the Current Close is Greater than of Less than the Midpoint of the Previous Bar (Why Midpoint Explained in Detail in 1st Post). The Version in SubChart 2 Shows Consecutive Closes that are Greater than or Less Than the Previous Close (Will Discuss Specific Uses in 1st Post). Works on Stocks, Forex, Futures , on All Timeframes." Chris' Trading View account is here: tradingview.com/u/ChrisMoody/