I believe a double Bottom has already been formed and it is almost reaching the end of it's pattern. But I believe the cup pattern has still a bit more to go. After the entry at 120, I will sell 50% of the stocks at 128 or close to it. If a pull back starts at 128 I will wait for the pattern to complete and to rise above 124 on Buy Area 2. Once again I will sell only 50% once it reaches Sell Area at Stage 1 (135).
On both buy areas I will keep 50% to sell at 150 or close to it.
If the pullback doesn't happen at 128, the BUY AREA 2 goes to the value of 135 and there will be only one SELL AREA 2 between 140 and 143.
Please share your thoughts. Once again my readings don't mean they are true, they are just ideas. so always take your time to analyze.
Why would you sell at 128 - are you only using TA for this stock? Are you not aware that OPEX is feb 18th, playing out in full at 2/22? We will probably see some attempt at hedging either today or tomorrow, but next week this thing will rip once the MM's start hedging. Short interest and utilization is also increasing steadily, short interest at about 23% now according to finra. Look at all earlier dips and rips for GME, and you will see a clear 40/60 day pattern, with sharp increases and slow bleeds. We are currently at the cusp of one of the sharp increases, which I believe will last until March 10th, or 10 days before GME earnings.
Tryfast
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@GorillaApeMonkeyBoy, Thank so much, I appreciate the feedback. For this chart I only used TA, it was the first time I analyzed GameStop. I am still in a early learning stage of trading stocks hence my idea shares have failures. :D
Tryfast
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@GorillaApeMonkeyBoy, the sell at 128 for me was the start of the pattern, if it even exists. But that was my reading. :D
SierrasTrades
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What's a sell button?
Tryfast
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@SierrasTrades, Sell your assets for cash. So, you buy the stock at a certain price and you sell it for cash once it reaches your objective.
Tryfast
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@SierrasTrades, But there are some sites that also let you buy a sell option, that will increase your profit the lower the stock gets. But that is not what is referenced in this chart that I shared.
anonloopringeth
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My advice here would be, never sell yourself short. Get those numbers up, those are rookie numbers.
Tryfast
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@anonloopringeth, Totally nailed it with this comment :D. It is true they are rookie numbers. I will try to improve on the next predictions. Thank you
toonxwaga
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Volume should be the lowest in the middle area and it's not. This isn't a really good cup and bowl lol. A good double bottom tho...
Tryfast
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@toonxwaga, I am still learning so thank you for your tip. :D