GME tested strong high-volume support from March and earlier in 2021 and bounced up sharply off the ~$122 level rising to ~$174 in the AH yesterday.
The AH spike occurred at a time when most retail was not in the market, likely to avoid FOMO and more specifically to effect the IV in a manner to curtail potential options trading by retail and other players in this equity. Smells of desperation.
And the OBV for GME is amazing and continues to show that nobody is selling even during significant price drops. GME bulls will just not let go of their shares.
Further, the Woodies CCI indicator had a fairly extreme reading this week and with the sharp bounce up off support, it appears that the near-term bottom may finally be in...
In terms of the recent media coverage I heard it was "bad" for GME. I don't watch the media much if at all, but trading wisdom has always dictated that traders should 'SELL THE NEWS' - meaning smart traders will often buy/hold on bad news and sell on good news. Based on the OBV it looks like the smart money is adding and holding through this recent bad news...so am I.
Not financial advice.
The AH spike occurred at a time when most retail was not in the market, likely to avoid FOMO and more specifically to effect the IV in a manner to curtail potential options trading by retail and other players in this equity. Smells of desperation.
And the OBV for GME is amazing and continues to show that nobody is selling even during significant price drops. GME bulls will just not let go of their shares.
Further, the Woodies CCI indicator had a fairly extreme reading this week and with the sharp bounce up off support, it appears that the near-term bottom may finally be in...
In terms of the recent media coverage I heard it was "bad" for GME. I don't watch the media much if at all, but trading wisdom has always dictated that traders should 'SELL THE NEWS' - meaning smart traders will often buy/hold on bad news and sell on good news. Based on the OBV it looks like the smart money is adding and holding through this recent bad news...so am I.
Not financial advice.