Realistic Price Targets for GME if it Follows AMC Bar Pattern

GameStop CorporationNYSE

Description

⋅ Jun 22, 2021 8:13 PM

I had multiple people ask me for GME price targets in my last post comparing the breakout in AMC to current GME pattern.

The easiest way to compare the breakouts in my opinion is to use the Fibonacci tool.

With that being said, we can see AMC ran all the way to a full fib extension when measuring from its last peak.

If GME does the same thing, we can see it approach close to $2,000 and consolidating between the $1,200 and $2,000 range.

- CAHLESS

Comments

TranceaddicT66

⋅ Jun 23, 2021 7:36 PM

Why are you using a retracement? That is for backward-looking forecasting? Your application here is reversed.

Forward-looking is for the trend-based tool.

(FYI, I'm bullish for an $856+/- range.)

CASHLESSSOCYS

⋅ Jun 24, 2021 12:14 AM

@TranceaddicT66 works like magic in crypto for upward price action. Crypto is all speculative. As is GME (at the moment). Just was showing how if you apply the retracement fibs to AMC, it runs all the way up to the full extension.