This chart is basically saying that the price of the GameStop stock is still accumulating with decreasing volume on the NYSE. We see the price reacting to either the Support ($140.00) or the Resistance ($190.00). From a technical perspective, there is no advantage in trading within the pattern. You will have a great Risk/Reward ratio after the price breaking out of the structure.
There are (obviously) two possible scenarios. The current sentiment is pointing towards a bullish scenario, which can be confirmed be looking at the MACD (Moving Average Convergence/Divergence) and the RSI (Relative Strength Index). The average price is increasing while the price is going in a sideways movement. In this case, we see buyers being active on the market without being able to spot it in the first sight.
For a proper breakout of the horizontal channel, we want to see increasing volume and a strong reaction at the support/resistance. This is my personal confirmation for loading more stocks. If the price moves past the $140.00 level, I will look for a lower entry around the $100 level.
Feel free to check out my previous GME analysis as well
![[WSB] How to trade the GameStop Short Squeeze!](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
There are (obviously) two possible scenarios. The current sentiment is pointing towards a bullish scenario, which can be confirmed be looking at the MACD (Moving Average Convergence/Divergence) and the RSI (Relative Strength Index). The average price is increasing while the price is going in a sideways movement. In this case, we see buyers being active on the market without being able to spot it in the first sight.
For a proper breakout of the horizontal channel, we want to see increasing volume and a strong reaction at the support/resistance. This is my personal confirmation for loading more stocks. If the price moves past the $140.00 level, I will look for a lower entry around the $100 level.
Feel free to check out my previous GME analysis as well
![[WSB] How to trade the GameStop Short Squeeze!](https://s3.tradingview.com/z/Zd8yDVWi_big.png)
![[WSB] How To Trade The Actual GME Short-Squeeze #2](https://s3.tradingview.com/w/wzdAwlYr_big.png)
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