Short Term - We look to Sell at 91.90 (stop at 108.16)
The primary trend remains bearish. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. Further downside is expected. Preferred trade is to sell into rallies.
Our profit targets will be 57.10 and 40.00
Resistance: 92.00 /...
Net sales $2.254 billion VS $2.122 billion in Q4 of 2020 VS $2.194 billion same Q 2019.
Net loss of $147.5 million, or $1.94 per share VS a profit of $80.5 million, or $1.19 per share las year.
My buy area is $48 - $69.
I expect a bounce from that strong support.
GameStop - Short Term - We look to Sell a break of 118.66 (stop at 132.19)
Rallies continue to attract sellers. Daily signals are bearish. Trading volume is increasing. The bias is still for lower levels and we look for any gains to be limited. We look to set shorts in the early trade.
Our profit targets will be 62.74 and 42.00
Resistance: 160.00 / 200.00...
GME Gamestop had 4.8K Puts and 1.6K Calls for the past 7 days, most of them being short term and leading to a price close to the $110 support.
Considering the chart and the options for GME i would say it has the chance to touch that support line before being bullish once again.
Looking forward to read your opinion about it.
First, you must fall, then you can rise. This old saying also holds true for the GME stock. We expect the price to drop to around $54.58 and then go on to reach new highs above $500. So, there is a lot of potential still with this stock. However, the current correction needs to fully unfold, before the potential can be realised.
Any new year's resolution already?
On the volume indicator, I can see distribution on the shares the bulls have collected their profits, letting the bears enter the rally,
In January 2020 the GME stock has got a huge pump coming from social media like Reddit and Twitter, which prompted the platforms to limit the number of shares purchased as a maximum, and prevented some platforms from trading the...
Gamestop near double support. We have a triangle at the top. According to classical technical analysis, such a triangle can be both a trend continuation model and a reversal model ... Moreover, this triangle must be broken up or down no later than 3/4 of its beginning to its top, in other words, no later than November 1, 2021 ...
Otherwise, the model is considered...
GME Gamestop lost some traction on WSB recently, which made me think about a possible retracement to a support level that i might considering reentering this stock.
And that support is around the 130usd area!
I am looking forward to read your opinion on where GME Gamestop is heading now!
GME reached the 200 MA on the 8h + extended hours, it hit the S3 weekly, the diagonal support, a VP HVN and it managed to get into an area that was previously resistance (currently turned into support). So to me this either is the bottom, or GME is in trouble. This is a massive combo and the structure of GME in the long term is still bullish. In my opinion the...
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...
Tomorrow is the the shareholder meeting
Further tomorrow is 10 trading days from the initial spike from 180 to 210+ from May 25th
The previous spikes were>
January 13th we had the spike to 25 dollars~, then 10 trading days later we had the spike from 150 to 483
February 24th we had the spike from 38 to 80 dollars, then 10 trading days later we had the spike from...
Yesterday was the highest close since January 29th with today being a second close in a row over 250.
At this point being so close to the 9th, there is a large portion of people waiting for that all important answer to the only question that matters.
How many shares voted in the shareholder meeting?
We will find out next week and while I have enjoyed this...
196 was the high in April, so that is near term target.
2 days closing green over 180 after not being able to break it for 3 weeks is very positive.
Tomorrow is T-21 from 4/20, that was a big drop day with 4.7 million volume which means up to 2.9 million shares shorted at 62.2% SI that day.
Its possible a large portion of those shares need to be covered...
I moved my moon indicator over 1 week and set at 175.
GME is now firmly over the 5 month downtrend started with the mini-squeeze in January.
Looking like finally we are at last call before this thing goes bananas.
Volume is coming back as well, options haven't yet kicked off but any big move in options will set this off.
Just tested the descending downtrend. A full break tomorrow should be confirmed shortly. A rejection would mean a retest at the end of next week.
Some other interesting info.
There is 4 million shares in way OTM puts expiring next week. These are opened under 30 dollars. These are rumored to allow hedge funds to not have to deliver FTDs right away.