Gamestop
GME Gap Close There is a strong Downward trend in the chart. Short Squeeze is one possibility but it is also an option that there will be a gap close with a strong sell off to the resistance by 42,94.
GAMESTOP CORPORATION Gap marathon continue?GAMESTOP CORPORATION jus follows,, gaps should be close for upside this week!
GAMESTOP - A Simple Breakdown Of The Waves - The Trend Is Over In this video I explain the waves in GAMESTOP and how this was simply the end of the trend.
Even with limited chart data its not hard to see what caused this.
If you have been wondering why this and that well it's really quite simple.
Below I will link some related ideas so you can see how the waves are all that matter.
The waves are in essence based on human psychology and repeat at all degrees of trend.
When you learn the nuts and bolts of how it all works then it is easy to see how they can be applied to ANY chart.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Gamestop in ETF GME became around 20% of the weighting of this ETF from around 1.5%
If you haven't been investing on the Reddit Frenzy, and you wish you had; now is your second chance.
21ema is the support level to watch currently, as it has held in the past; and is giving great risk-reward as we are just above it.
Volatility can be extreme, so set clear defined limits to where you are comfortable with your potential losses.
GameStop The bears are winning the fightThe GameStop company, a chain of video game and merchandising stores, has been in the news for a few days due to the spectacular rise that its shares have experienced on the stock market. But what happened?
1.- After the rise in GameStop shares are individual investors grouped in the WallStreetBets forum of Reddit
2.- Large investors were shorting GameStop and decided to take advantage of it to buy shares in the company. By investing in these stocks, the price started to rise very quickly.
3.- Began to buy back the shares they had sold to minimize losses, but that only caused the price to rise further. This is known as a short squeeze.
4.- As of today, February 5, 2021, the stock price has dropped. This has caused people who bought shares at the highest point of their value to lose a significant part of their investment due to the drop in price.
If they like me, reward me with a like or coins tradingview
One could say I'm reaching...A fun little analysis of GameStop. There's still an argument to be made for another impulse wave up if the top would be considered a 3.618 extension from the low last year.
ALERT - ETH Ready To Explode Higher This WeekendETH reached ATH yesterday of $1699 and has seen a healthy retrace back down to the $1556 level. Now ETH is forming an inverse Head and Shoulders pattern, and getting ready to explode higher over the weekend to reach $2K, before the incoming CME launch on 2/8.
Meanwhile, ETH is about to explode higher GME style, as a growing number of options traders are sitting on large unrealized losses following Ether’s (ETH) latest price surge.
Pankaj Balani, CEO of Delta Exchange told Cointelegraph that he has observed “a lot of naked call writing activity in ETH for deep out of the money call options all the way up to $2,000 and $3,000 strikes.”
A call option becomes deep out of the money if its strike price is significantly above the current price of an underlying asset — in this case, Ether.
Balani said: “As price surges, short call options positions are resulting in heavy unrealized losses, forcing option writers to buy more ETH in order to cover their short gamma exposure.”
Traders sold call options of strikes $2,000 and higher in December 2020 and January thinking Ether’s price would not appreciate as quickly and that their options would expire worthless.
“There is a chance that those sold options will not expire worthless,” he said.
As Ether moves higher, this scenario will only intensify, forcing additional buying activity.
In the options market, this feedback loop is referred to as a “gamma squeeze.”
ETH CREW: Let's converge and pull a GameStop-like gamma squeeze for ETH!!!
Cheers!
Source:
cointelegraph.com
Its not gameover for GMEIve been watching GME the last few days and today looked like a nice entry on the 1h. There still is room to go down, but i feel pretty confident it will pump on mondays open. Its under the 200 ma on the 1h and close to oversold on rsi. All i see is plenty of room to bounce up from here. Main takeaway here is wait for monday and see if theres a breakout. Either way its a buy and hold. Thank you and good luck in your trading.
Gamestop's Next Stop GMEIn this entire drop from $500 there hasn't been any support levels to catch the price. For now, I only see two levels of balance worth an entry. One is at $45 and the other is at $21. Not a super in-depth analysis, but in stocks like this I prefer to ignore all indicators and simply look at the levels the market has previous found of value.
AMC ST (February 2nd 2021)AMC Entertainment (February 2nd 2021 through March 2021)
Low: $0.15 - $2 - $4
High: $9.89
So in the short term, it's not looking good. Technically this could still get a bigger short squeeze in the future but we have a period of consolidation ahead of us for now if that will even be possible in my opinion. Otherwise this will get driven right into the ground. Grab the popcorn, it's heating up. The battle is on.
I do not have a lot of hope for the smaller retail traders right now. From what it looks like, a 4.236 fibonacci was fulfilled and there will need to be a LOT of buying to help recover past those levels again.
Now, if we imagine a scenario where the coveted pump happens so long as the bears aren't going to take over completely, the next levels to watch for serious selling action for could be: $40 - $64 - $88 - $102 - $165 - $264
But it needs to top its last high of $25 first, and it can be possible but is a lot less likely now that price has shuttered as much as it has the past couple days. Not looking good in my opinion but this will be interesting to watch.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
64 is comeback of GMEwhen volatility increases like that, don't use dynamic channels but just statics. 64 is strong static support and is an entry point and after 485 there isn't any dynamic resistance to 11691
$GME chart view 020421Looking again at the 30 minute chart of $GME, after a lackluster session... while the RSI appears to be slowly bottoming out, i would like to see it get much higher and gain momentum in the next few sessions, near or above 70. I would like to see the VI lines cross and stay above the moving average. My best speculation at this point is that 65-75 may serve as a consolidation levels, where we will either see accumulation with higher volume, or see it break below 65 and continue to have volume, RSI and VI go south. I think in a trade like this, volume and momentum is key as any other data point or fundamentals is out the window. As before, watch for entry points and don't chase, save your ammo and be sure to set limits and stops on this one. Good luck.
GME price action technically soundA simple TA starting from the low in April 2020 up to today. The peak represents Wave 3. If this analysis is accurate, then it would suggest that we are currently still at the Wave 4 level waiting for an impulse wave up to Wave 5.
GME SHORT SIGNALGREEN HEART WAS A SIGNAL TO GO LONG BUT THE RED HEARTS ARE SIGNALS TO SHORT. VOLUME IS VERY LOW. SELL BEFORE IT CRASHES!
A Game Well Played (GME)Yes, I actually presented the possibility of a massive short squeeze to all-time high levels for GME stock back in October. Here is the original analysis:
There were clearly some opportunistic investors who bought the lows on this one and made out like bandits. Unfortunately I wasn't one of them (I made the initial post by request). Even those who bought below $5 and sold at $30 did very well. The idea was that GME might actually be undervalued. Even Michael Burry ('Big Short' fame) had invested in the company. Time will tell if Gamestop can restructure in such a way that proves profitable and time-enduring. But clearly, this stock is a fan-favorite. The Millennials involved in the short squeeze certainly have an affinity for nostalgia. Just look at Nokia and AMC (remember when we could go to movie theaters?)
Many on WSB are now wondering what's going on, clearly. The herd-mentality is quite extraordinary, and together a large group of smaller investors was able to squeeze whales out of their positions. Unfortunately, the wealthy elite are the ones with the liquidity and access to massive amounts of borrowing. In numbers, when people collaborate they can certainly have an impact, and it's inspiring to see that happen here. HOWEVER, human nature always takes over, and people get both fearful and greedy. These emotions drive the markets. Big investors have the wealth to afford short term losses. In their mind, the market always goes up long term, so they will be able to recover their losses. But the wealth disparity is so great that when an individual risks their life savings on something like this, it will take a very long time to recover. So the fear is correspondingly much greater, and that fear makes the stock owner a paper hand. To really have "diamond hands" you need to be able to stomach losses of 50% or greater. Those who bought GME above $300 (I suspect there are a lot of them) are already down to less than a third of their original investment.
The name of the game is always liquidity. Unfortunately, after Robinhood restricted orders, buying pressure eased up, allowing prices to fall. Charts were going around displaying "low volume sells," but that's not the entire picture. In reality, it's the lack of buyers. Even though there aren't that many people selling necessarily, price can still drop if there are even less buyers to eat up the supply from the sellers. So price has dropped right back to where I'd expect it would - roughly near the previous all-time-high. Psychologically, the $65-75 range should be a moment of maximum pain for anyone who bought during the meteoric rise. And therefore, their panic-selling should provide the most liquidity for new buyers. If GME is to actually move up again, I expected these levels to be tested. This is the first time I see a potential buying opportunity. If GME falls below $65, it can head right back to my trendlines and much lower support levels. This is the risk. If one believes in this company's value long-term, these are the levels to look for entries. And yes, it can go all the way back to $15-17 and still remain in an uptrend!
Here it is zoomed in, so you can see my trendlines more easily. The green horizontal line is the previous ATH
There is still a chance for further squeeze action (yes, even towards those ridiculous $1000+ targets), but GME will need to hold above my trendlines, and ideally above the previous ATH. Ultimately though, once the final squeeze is done (if there is one) I expect the stock's price to fall back to earth and land somewhere in the $10-20 range. We'll see! I am not personally buying GME unless it gets back into that range and shows some promising business moves. But the $65-75 range is where I'd look for the first line of strong support, if I were trading this (previous ATH). Right now I'm looking to begin investing for the long term after building some capital using crypto market gains. Currently, I'm building small positions in stocks/ETF's that I think have room to grow, despite very precarious economic conditions. I do think we're nearing some sort of climax to a large debt/asset bubble. I'm very curious to see what happens in the next few years. Perhaps sectors other than big tech (green energy, new infrastructure, marijuana, nuclear, etc) can take the reigns and we can avoid a serious economic collapse. It all depend on the world's leadership, and what they do about the wealth gap.
I see a lot of people my age investing and trading for the first time. So in some ways, I am at an advantage with respect to my cohort, since I have a pretty good idea of how the markets work. It's important to have a PLAN, and many entered this frenzy without one. Some will become long-term investors, but many will lose enough money to impact them for the rest of their lives.
Part of this IS general investing advice, but this post is NOT a recommendation to buy or sell any particular stock. This is for speculation and education only. All I can say is be very careful, assess risk, and TAKE PROFIT. Profit and capital preservation is your POWER against fear. FEAR makes one a paper hand. And I acknowledge many around the world do not have the wealth or financial safety net to handle losses. To many, the market offers opportunities for those who don't come from privilege. But especially in those cases, it's immensely important to exercise RISK MANAGEMENT. Take that profit, enjoy it, and carefully plan the next move when you are ready.
-Victor Cobra
