Gold is bouncing of a very strong trendline. Good technicals and we also have a good fundamentals as we see huge wipeouts in the equity market such as facebook example.
people are panicking and they will look for safe haven in gold.
we also have an RSI divergence on 1D chart
Gamestop seems to be among the most hated stock out there.
It is tanked so low that is unbelievable. However, what is surprising is that the stock is trading far below its book value and it has a PE ratio of 4 which is also unbelievable. The reason was mostly because the company was not run in an optimal way.
However, that is about to change. New CEO has just...
Shorts are at the all time high. The only thing that perhaps changes my mind about this is the longs are at significantly high levels as well.
However, we can understand this if we take a look at the Longs/Shorts ratio and its showing us bullish divergence on the RSI indicator.
Longs are about to increase which can trigger a massive short squeeze. If it works...