TheJoeG

TWO SURPISING UPDATES ON GME SCENARIOS

NYSE:GME   GameStop Corporation
1) Have not been able to break resistance and there was a bearish supply spike when we hit it. This resistance is being respected.

2) The bullish trend angle is not sustainable contrary to what I believe is a reasonable bearish trend line

3) the two scenarios I already discussed in a previous post are here.

I am predicting a sub 100 low then new high and two potential paths there. For detailed ranges FOLLOW ME and look at my post about GME scenarios.

I am THE REAL JOE G.

But always do you own DD.
Comment: Additional if we do break above this.... we would entering an asending triangle, typically breakouts go the opposite direction of this pattern which would align with my prediction.
Comment: NOTE* The PATH is just directional, not price ranges.
Comment: New C leg range: $88-$60
Comment: OBV showing some bearish divergences here.... the anticipation builds.

Comments

Pretty much agree with your take on this. Interesting that it just hasn't been able to maintain itself over the 200 even though it does seem to be trending up. There does seem to be more resistance between 210-220 too. I guess if it can turn the 200-210-220 into support it could go into the 250-270, do you think that IF it gets up there it can create support up there for the push into the 300s or do the bears and profit takers come out and that's how it starts its downtrend back to 100-70?
+2 Reply
TheJoeG jalvarezau
@jalvarezau, No, I don't think so,
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I'm new to stock analysis... but i'm pretty sure I've seen airport approach charts that are easier to read than this.
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May I share your chart with my followers?
I like the way you laid it out.
I have it possibly hitting 282 as a flasher top where I see u have 260 as a flasher high.
+1 Reply
TheJoeG Legalizedhustler
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Good job man.
Explaining mutiple scenarios..
More info the better. I agree with your sentiment.
Could see a spike here before correction question is will it be 215.00-282.00-315.00 before correction.
But liking the chart 👍
+1 Reply
Low volume today, bounced of 200 resistance. Unless we get more volume and break through 200 resistance, we are going down.
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TheJoeG Turtle271
@Turtle271, No volume, only volume spike was around 2.5X and it was bearish.
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Turtle271 TheJoeG
@TheJoeG, What do you think, straight down to 60-88 range or upthrust to 260 range tomorrow?
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TheJoeG Turtle271
@Turtle271, 5 minute chart looks very bearish, bearish candles with expanding volume (confirmed)... at the same time bull supply is contracting (divergence). Go look at the action before the 40% drop last week... we had ant volume... it doesn't take a lot to drop 40% because there's just no demand (from what I've seen thus far) for GME at $200 prices.

I'm preparing for a move down tomorrow or early next week.

IF it does close higher I think that's more support for an upthrust coming.

If closes lower, that's more support for bearish movement.
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