GME this past week showed a nice reversal as seen on the 30 minute chart. Price hit a swing
low on May 2nd and then rose the rest of the week. Is it riding above the linear regression line
set to draw context and direction. On the anchored VWAP bands GME has crossed over the
first standard deviation VWAP line as well as the mean VWAP. Buying volume has replaced
selling volume in the past 3-4 sessions. GME crossed above the POC line of the intermediate
term volume profile suggesting buyers are taking control of the market
Please comment. What do you think? Is GME getting ready for another launch?
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Call options have launched well - they look good on the ascent. GME's price up 7% since the idea was uploaded. Awaiting shorts interested in covering to fuel the rocket. Also looking at AMC / APE.
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GME up 4% today Call options gained 70% Are short sellers buying to cover ?
Trade closed manually
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I believe that GME topped on Friday. I see a bear flag pattern on the one-hour chart. AI trend indicator is now predicting a downtrend to $19.00. Trade closed and switch to put options. Expect more volatility in the upcoming week as earnings are reported.
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I have placed a buy-limit order for when the price drops to $19 with a target of $25.00 with a stop loss of 2% and a projected return of 30% making for a great ratio.
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obviously the AI algo gave a low estimate of the action therefore I believe that a short squeeze maybe underway the AI does not have squeeze concepts in the mathematics- I jumped in this early morning ( 1:30 AM Phoenix time) cashed out the profits and then jumped into call options at the regular open.
Trade closed: target reached
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Positions closed at $24.00 will go long again at $19.45 which is new algo predicted bottom on Friday afternoon to set up for the upcoming earnings.
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Nice sympathy pop today for the general market rally will re-enter with a small position and watch for sustained momentum.
GME up 4% today Call options gained 70% Are short sellers buying to cover ?
dmentertainment
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@AwesomeAvani how far you think this run could take us 🙏
AwesomeAvani
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@dmentertainment, despite the AI forecasting I am hoping for a short squeeze event from short sellers getting pain and liquidating.if it happens then typical parabolic move is possible I suppose.
AwesomeAvani
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@dmentertainment, another AI prediction for the top is $27.75 on 6/7. Earnings are on 6/1 they predict $27.63 before earnings. If earnings are good the trajectory would likely accelerate. None of this AI stuff is perfect but far better than guessing
AwesomeAvani
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GME continues to look good. Call options are up 75% so taking 1/3 of them off the position for risk management and profit taking.
AwesomeAvani
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@AwesomeAvani, AI predictive is for 23.32 early Friday morning and then down to 20.75 for Friday May 26th. I will be switching outcall options for put options tomorrow afternoon @ 3:30 EST. If in stock suggest sell tomorrow afternoon the same time and short sell the profits for compounding Next uptrend projected for Monday June 5th.
AwesomeAvani
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Call options have launched well - they look good on the ascent.
Humraj
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Er running $50
dmentertainment
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You closed at 24… I don’t see how you can get out at the top yesterday and out today at the top on the daily highs something Smells 🤨