TheStockMarketSniper

GME long, Gamestop ready to fill the gap and explode upward!

Long
NYSE:GME   GameStop
GME Gamestop is ready to go Long. In Q4 they turned in actual earnings of +0.32, at the end of May they will be turning in Q1 earnings, which the entire world estimates are horrid for every industry except bio techs. BUT my theory is that Gaming increased with school being out, work being canceled, people being laid off. People often forget the online digital sales of gamestop and the by mail sales. With less money being dished out for "trade in" games or systems, gamestop SHOULD be in a decent position to weather the COVID19 storm and squeak by with posting a much smaller negative earnings than estimated (-0.35 estimated) and post something along the lines of -0.15 or even a small profit of +0.10. My point is the market and analyst have way overacted to a company that functions in a hot space, with increased tute support and an product delivery system that was better prepared to handle this storm than other retailers such as clothing or sporting goods.

additionally, this stock is trading at a much decreased relative volume headed into jaded earnings estimates, its MACD is trending upwards into earnings date, and the RSI looks to have stabilized more than post partum mother on beta blockers, red wine and Xanax.

I have circled some price targets that should hit in accordance to their dates and it is technically trading into a channel and its also deciding if its going to be a triple top or a double bottom if you zoom further out,, a break to the positive side has so many stacked catalyst that it will speed GME from 5.50 to 7.00 in less than a weeks time once the ball gets rolling.

Worst case scenario, it fails the channel, earnings suck as bad as estimates think they do, and GME has to wait til Q2 and Q3 to post a nice profit on some Console war action and climb back to 9 before Xmas.. I like the odds. going HEAVY here.

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