Looks like GME it was just consolidating, and ready to bounce
After completing the Cup and Handle pattern fully, it looks to me as if we completed a full impulse wave 12345 with a ABC correction. This perception is also supported by the perfect fibonacci levels and filled the gap at 211 to 220 This suggests we are about to enter a new cycle. Since the Earnings report was incredibly bullish (25% sales growth, 49% earnings...
Finally came back down to my buy target, $235 and $218. Fully expect this to consolidate for the next week moving sideways before moving up again.
A textbook collapse in GME as expected. I week ago June 3rd, 2021 I posted this chart Clearly, the money flows were not there to support higher prices. Again When Dentists, waitresses, lawyers, and taxi drivers become trading gurus it's Game Over! Dotcom 2.0 Don't blame the messenger.
Major Price action today, drop (with gap down) hitting a low of 211, and closing today at 220. After hours is up slightly to 230 which is pretty interesting. The thought is with the higher volume day at 22.7 million is that Gamestop sold all or most of the 5 million shares they announced they could sell yesterday. The last time GameStop completed selling 3.5...
This may end up being a significant Dragonfly Doji if the symmetrical triangle pattern is still valid and a breakout to upside occurs in the next few 2H candles. Also on the 4H candle a Bullish Hammer candle is forming and will close in 11 mins.... the multiple bullish candles across different timeframes is surprising and interesting to see following the...
Note how this is an exact repeat of late-March. Seriously, E-X-A-C-T. Earnings => Price Collapse => Recovery. (Yes, doubters, recovery has already started.) Let's review the steps: Earnings How it went: March was okay (not good, not bad) news. How its going: This time the news was decidedly positive and promising - fundamentals improved, L/T debt...
Not sure of the news today but this is a gap fill I've been waiting on.
Short term bearish. next target $300 for mid term. $160-170 is great support level
(Just a chart)
After completing the Cup and Handle pattern fully, it looks to me as if we completed a full impulse wave 12345 with a ABC correction. This perception is also supported by the perfect fibonacci levels. This suggests we are about to enter a new cycle. Since the Earnings report was incredibly bullish (25% sales growth, 49% earnings beat) and the surrounding news...
It looks like GameStop completed the sale of 5mil shares, I'm expecting the email soon. That will give a fantastic boost to the cash reserves. I'm bullish
Bullish Cup and Handle on GME Like and follow to stay updated
Earnings tomorrow, look like this run is starting to loose some steam. I expect some drop on earnings day or after. Looking at $235 to add more.
If I had to make a guess, this is what I see happening. After that, chart a course for warp speed.
-CNBC’s Jim Cramer said GameStop and AMC Entertainment are presenting buying opportunities as the companies prepare to reinvent themselves. -“These companies now have the ability to reinvent themselves because higher stock prices have allowed them to raise capital,” he said. -GameStop, which reported better-than-expected results for its first quarter after the...
Nice that most of the consolidation was done overnight, saving us from a few gruelling days of sideways and downward trading. It also prevented paperhands from exiting as most of them don't have access to after hours trading.