AMC has made an impressive run up. We've now completed a blow off top creating an evening star formation with a gap up and gap down. Not shown on the 1 hour chart is 5 waves down completed for Wave A and targets around $16 for Wave C, which also around the $20 breakout level before the blow off top. My target is $16-$20.
Over the last few months GME has been forming a large cup, basically completing that cup today. If we look at the pattern from October '20 made before the first spike and current0 the formation playing out, we can find a lot of similarities. Since the squeeze seems to still be a play - just for fun - let's take a look at how this would roll if the same pattern...
I made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past...
If you are a Gambler, it could be the time to gamble..! The first group of the gamblers seems already left the table..! The result of this game will be 0 or ...??? Price Pattern one to one match..!
Still following the upwards trend and with some volume this afternoon can close around 319.
Don't be afraid boys, GME is still on track! In fact, it's just warming up
350 looks like the trigger to more upside and possibly greater volatility what a great casino wall street has created for us time to squeeze the big fish not financial advice
Based on the move up, resistance should have been met at the 16.59 level according to previous waves resistance back in April and May. As you can see, we broke right through that, now showing support in the 100% retracement level. Holding the $17 level is important for this to touch the 24.34 level again
Join my stream at 6:30pm EST to discuss! All questions and opinions posted in the comments will be answered!
Just a quick update with some notes. Long trendlines are holding, log scale remains intact and gap up fills before 2 gap downs. we gucci Good luck and hang in there.
$GME surging through that 61% retracement level, holding here with continued squeeze momentum sends the next target to $400 being the 78% retracement level
$CLOV Squeeze Called out from $7 price point, GLTA. Next Fib level is 24.33 with gamma squeeze
As predicted in my older posts, GME is now nearing the completion of the Cup and Handle pattern. This is very bullish, and indicated that it is ready to continue its long term upward trajectory. The long term trend we see with this pitch fork from the ATL to first peak and next low outlines that we should be expecting another test of the top of the 1x trend line...
AMC above key resistance and fib level. A break of 60 and AMC can run to 68-70
SEE CHART - BELOW STEP 2 (175) WILL INVALIDATE THE PATTERN
TA on 1 hour candles: After some consolidation in this flag pattern , bullish pennant , it seems the price broke trough and have retested the upper side of this pennant in the last market hour yesterday. Today is probably where we going to see a nice jump. normally it can go at least to $65.46, where the candles closed and opens at the last top. From there we see...
GameStop - GME - Still going to $600? The GrandDaddy of the WallStreetBets Movement? AMC will be chasing GME? LOL