We are sorry we did not get into this earlier, big mistake on our behalf to not short this years ago on the explosion of online gaming. Sometimes the most obvious things are missed , this should have been the automatic short the moment XBOX etc were using downloaded games. On the positive side there is still plenty of room to run in the downside.
hella FUD around gamestop, bulls really need to step in ASAP to paint this BULLISH divergence on the daily so it can be clear on the weekly. New CEO coming in has raised concerns but im hoping that they can make a turn around and prove the bears wrong!
Gamestop is and has been a obvious short for some time. Recently rumors circulated that the company was contemplating a sale, this was later quashed by the board, thus a massive sell volume spike. When seeing this you must ask yourself who would buy GAMESTOP ? We suggest no one in their right mind. As we state on the chart, this is the Blockbuster of gaming. Sell...
Gamestop seems to have a lot going against it these days.
They report earnings on Tuesday.
Q4 is always their biggest quarter. If they miss, I think it's going to hurt.
Even if they don't miss, how rosy can the outlook be?
$10 April 18 long puts can be bought for .57.
The brick and mortar video game model is becoming obsolete. GameStop now competes with titans like Microsoft, Sony, WalMart, Amazon, and online marketplaces offered by Steam and Nintendo. To further support the continuation of this trend is the recent decay of fundamentals. They have spun off their telecoms branch, removing a source of revenue diversification...
it is a good lesson for me, as I found its chart looked pretty in technical ways
- a 3 month consolidation after long term downward trend
- Bottom confirmed several times
- price increased with volume
- triangle patterns in the upward trend
however, it failed to continue increase after broke out the triangle. and it is over 10% loss a day.
Lesson for all trader...
$GME Looking very overbought on the hourly chart, tagging the resistance line with a tweezer top forming. RSI peaked near 90.
Expecting a retrace back down to at least $16 within a week, prior to ER in early Sept.
Note: Informational analysis, not investment advice.
GME broke out of a beautiful symmetrical triangle. I can buy on the break above the upper supply area. However, it has recently been downgraded to a zacks rank of 4 (sell). There is however a possibility of a buy out which would result in significant move to the upside. Also, zacks analysts do not expect GME to meet earnings estimates which is not too far away. I...
Although GME recently broke out of a pennant pattern recently, it had little follow through in terms of momentum to the upside. It seems to be having some trouble breaking the $15.50 level, which corresponds to the upper bound of the Kovach Reversals Indicator. There also seems to be a strong level above that at the psychological $16.00 level. After that,...
I'll be honest, this play is stronger on the fundamental side, but technicals are still strong backing up my play.
- Volume picking up after large sell off
- RSI has been in the crapper for months, definitely oversold
- CCI looking a bit oversold as well
- MACD has lots of room to grow, already crossed on the 1w
- Massive sell of...
Greetings fellow traders
Here we have the $GME daily chart with a highly overbought Stochastic. Recent earnings were a miss so run up should be short- lived. If it can't hold 14, expect a drop to 13 or lower as illustrated in the previous 3 overbought situations. i'm really bearish on brick and mortar retail anyway and...