GameStop 2nd massive wave of GME known as meme stock coming !?! After breaking the downward trend line and closing way above it. It is to be expected the GME start a massive rally similar to the one it made earlier and make new highs. Key levels are mentioned in the chart.
PS. such stocks shouldn't be invested without proper risk management. Don't forget to put stop losses near resistance area.
Gamestop
Possible GME Price Targets It looks like we COULD see some price movement this coming week with GME and AMC considering AMC is expected* to report earnings on 11/08/2021 (Monday) after market close. If not maybe GME earnings could make the move in a few more weeks.
Possible GME scenarios
1) Resistance at $234. If we break upwards past $234, I imagine we will AT LEAST see the GAP fill from 287-$297.
2) Support at $190-$208. If we fall below $190 without immediate turn around, we should sell down to the $140 region and lower ($7) before reversing back up to make new highs.
3) Consolidation between $200-$230 until GME earnings where any positive or negative news of growth or about NFT could move the stock big.
Let me know your thoughts.
Note: I am LONG GME and AMC, I believe it is only a matter of time to see new highs with both stocks even if we test 52 week lows before then. Trading is risky, none of what I am saying should be taken seriously, for it is not a recommendation just posting my TA on the stock.
$GME Q4 may get crazyCould see some GME fireworks in Q4. Trading above ATH anchored VWAP (163.65) and appears to be breaking out of triangle. Needs confirmation, but worth having on watch. Break above $225 resistance zone and $300+ isn't out of the question with MEME strength in this name. Alarms set !
LRC Looks prime to test previous ATH ($2.51)Good afternoon traders!
Just a little bit of fibonacci levels here, LRC is currently presenting a potential bull flag following the breakout of the falling wedge. Stop loss is set just a few percent below the 0 level, with my average entry at 1.073.
A solid entry point seems to be a close on the 15m above this current fib level, with adequate volume and momentum. Looking to see Loopring push up to it's previous ATH being $2.51 with the GameStop NFT marketplace news expected to drop shortly. I currently don't have any targets if/when we break ATH, I want to see how it plays out.
Good luck traders!
Gamestop (Breakout)Gamestop is trading within a descending pattern (orange triangle), with the relative strength index trending down (below the orange line).
Price target (within reason) is the previous high $491.32 (dotted green line).
Expect pricing to stay within the yellow lines.
The Pink circles indicate touches on the trendlines.
*expect some additional volatility.*
AMC's 3rd Squeeze PredictionAMC has been prepping for it's next squeeze for almost 5 months now. Short Interests is at all time highs meaning shorts have not covered and the technicals show bullish momentum starting to build up once again.
Some indicators that suggest the next squeeze is starting.. low volatility, low volume (increasing now), high short interest, pennant close to breaking out, and previous trend analysis.
My price target is taken from AMC's Speed Trendline & Fib Retracement levels which suggest the next squeeze will peak end of November at around the $150 area
Low/High Weekly Price Targets:
October 22 - $38/$48
October 29 - $42/$62
November 5 - $52/$80
November 12 - $73/$88
November 19 - $87/$104
November 26 - $96/$150
Crypto vs GME/AMC vs Evergrande in the Last 3 MonthsA 3 month chart of the returns as a side-by-side comparison. That red line slowly sinking into nothingness is Evergrande, the lines in the middle are GameStop, AMC, and a random ETF I found on the real-estate market here in the US.
How the Evergrande crash will affect the US markets is yet to be seen (it'll probably take at least a business cycle or 2 before the effects of it show up here) but we do know that it will be negative, potentially recession-inducing.
As you can see, as the real-estate market dips, crypto is actually doing better, not worse. People liquidating their assets in China may have lead to the runs that we see today -- and right now where the interest rates of banks are low, crypto is the only asset that makes any sense if you want any sort of reliable return.
If this trend continues, we could see a jump in crypto prices like never seen before. Crypto is also what you call a "inflation friendly" asset because it's not beholden to supply chain issues like other assets are so it's more likely to adapt to economic conditions much faster -- at the very least, it will be affected differently.
But the important thing to pay attention to for the #crypto folks is how this is talked about in public -- if you notice, about a month ago crypto and #blockchain markets have taken a slight hit -- but the media around then started publishing articles how Bitcoin and Ethereum was "tanking" along with the real-estate market, due to Evergrade scares. This is what's called "cherry picking" your data set, since the overall trends show that the two things obviously don't correlate.
Don't get caught up in other people's problems, other people's fears, in other words. Misery loves company, after all. Crypto is in for some good times ahead, I'm pretty sure of it now.
GME - WeeklyCompleting Wave C correction on the Weekly. Need some buying pressure to come in around the 170 zone or it could fall back to 140. Expect the kitchen sink to get thrown at this thing between now and October 18. My triangle is apex'ing at ~ October 11, 2021. But, the end of the debt ceiling on (~October 18, 2021) does seem like a perfect scapegoat for chaos when this thing flies along with all the ETFs it is going to prop up to prevent the outage like last time.
ALL UPTRENDS + BULL PENDANTAny DD at this point would be a waste of time as you all mostly know by now the stock is being manipulated heavily by naked shorts. That being said were just looking at the chart for a time and price estimate. As you can see most of the uptrends are all looking in the same direction. Theyre all looking at around the $500 + price mark at around the end of October or beginning of December. To me this seems reasonable. It may correlate well with banks needing 1 trillion by the first of October. To me the worst case scenarios is it dipping slightly before launching. As always, I do this for fun and make a pretty decent living out of it but I am not an advisor. I DO NOT TRADE this stock, I ONLY BUY AND HODL. Most of the stock market is risky for me at the moment and I feel GME is a safe haven for my funds.
Thats all. have a nice day!
God Bless