GME Back on track as Omicron dusts settle down
!! NFA !!
As the Omicron hit the scene, hedgies piled up on shorts as a last ditch effort for bringing the apes down. Now that the Omicron dusts are settling down, people are back at it and price is currently on an up trend.
Our friends at AMC got rejected at 200MA on 24H chart today. I Predict the same scenario for GME to happen. At the current rate, we will hit the 200MA at around $180. This price area is a bleed area for shorts, as they will be once again under significant loss.
GME
Genius brands multiple bullish signalsGenius Brands (GNUS) in a bullish descending wedge chart pattern with bullish stochastic & RSI divergence. This stock is currently shorted to the tune of 16.51% (47,084,674 shares).
Projected price of circa $3.42 (+190%) based on doubling of wedge height, excluding short covering and the infamous reddit armies involvement in driving the shorts into the ground!
Genius brands is one of the original 'meme' stocks of 2021 which trading was famously halted on during the GME short squeeze.
NEXT LEG LOWER FOR THE DOLLAR!2021 saw the U.S. dollar strengthen in anticipation of the Federal Reserve potentially raising interest rates, a possibility which became a reality yesterday as up to 3 hikes were announced to take place in 2022!
BUY THE RUMOUR, SELL THE FACT!
FUNDAMENTALS:
The odds that the Federal Reserve can successfully reduce its balance sheet to even pre-2020 levels with the amount of global debt in existence is precisely 0%.
A controlled deflation would crash every leveraged market in existence and precipitate an unprecedentedly large financial crisis.
It is possible that the Federal Reserve will hike its official rate while continuing to inject trillions in permanent and temporary liquidity, essentially bailing out the financial system and global economy from the consequences of these higher interest rates.
TECHNICALS:
The DXY is over-extended from both its 50-day and 200-day moving averages, and is primed for a correction.
The DXY is encountering heavy resistance at the 0.5 FIB level, and has printed FOUR DOJIS on the weekly chart, an extremely rare and reliable signal of a pending reversal.
DXY volatility is extremely low and is primed for a reversal, which is a bearish signal.
Time to buy GameStop? GameStop - Short Term - We look to Buy at 158.81 (stop at 130.88)
Previous support located at 145.98. Posted a Bullish Hammer Bottom on the Daily chart. Daily signals are mildly bullish. The bias is still for higher levels and we look for any dips to be limited. Risk/reward is ample to call a buy trade.
Our profit targets will be 239.71 and 293.57
Resistance: 253.00 / 300.00 / 344.50
Support: 145.98 / 132.00 / 117.00
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GME Gamestop! Impulsive prospects up to USD 530
Welcome to my in-depth and detailed analysis on Gamestop GME.
This analysis was first published on 11/22/2021 at 12:35 by me Highrisk221.
Date and time information is based on Berlin time zone.
We look at Gamestop in the 1 hour chart
As we can see in the chart, the price trend wärend the last high phase on 08.06.2021 at 17:00 put a correction phase which was ended with a trend break on 25.10.2021 16:00.
The price targets of the completed ABCD correction are indicated in orange lines and are at :
Target 1 275.89 USD
Target 2 306.38 USD
Target 3 323.67 USD
Target 4 367.06 USD
Target 5 392.84 USD
The MAximal target is given as 454.77 USD for this formation.
Two more Bullish Formation possibilities have now emerged from the trend break.
Formation 1 Would be a W formation, more precisely a W formation within a W formation.
The first W Formation starts on 09.06.2021 at 20:00 USD 324.68.
Forms the middle on 01.09.22021 at 14:00 at 232.48USD
And is still pending completion, which at the renewed reach of 324.68 USD
is completed. The course goals are not yet indicated in this analysis with, but as soon as the course 324.68 USD has again reached, are nachgetragen.
The subordinate W formation starts on 11.06.2021 at 16:00 at 240.68, and forms the middle also on 01.09.22021 at 14:00 at 232.48USD
The completion was reached on 03.11.2021 at 14:00.
Currently, the price trend is in a so-called retest, with an impulsive rise can be expected when exceeding 240.68USD.
The following targets can be reached:
Target 1 316.93 USD
Target 2 337.43 USD
Target 3 530.54 USD
they are shown in the chart as green lines
The second formation that can be seen is a Cup and Handle formation it is more or less the second part of the W formation.
The beginning of the cup is formed after the rise from 05.08.2021 to 01.09.2021 at 18 o'clock it was completed on 03.11.21 at 15:00 clock
The handle formed until 10.11.2021 22:00h and corrected in the area of 0.618 Fibonacci level.
The targets of the formation would be as follows:
Target 1 252.03
Target 2 274.42
Target 3 304.39
Target 4 390.74
Target 5 477.09
Target 6 530.45
I have published the cup here in a separate idea.
The whole analysis gets an invalidation as soon as the price drops below 156.62.
If you liked this idea, I would appreciate a click on the Like button ;)
If you have any questions, suggestions or a different opinion, don't be afraid to use the comment function.
Thanks a lot
Disclaimer/ Disclaimer of liability
Always do your own research before investing and seek the advice of someone trained to do so.
The analysis shown here is to be understood as my personal opinion on the possible price development of Gamestop GME, it was prepared to the best of my knowledge and belief.
However, I can not guarantee or warrant the accuracy, completeness or timeliness.
This analysis was published for informative and scientific purposes only.
It is not suitable for imitation or investment basis, and must not be understood as investment advice, buy, sell, hold or trade recommendation.
It is expressly discouraged, a trading decision or investment, based on my analysis or other published by me, information, articles, content or the like, to perform or make.
My analyses are always based on probability calculations and on my personal experience, so this analysis must be considered as a probability statement, which neither completely, partially so or so similar, must or can occur.
This analysis does not take into account any fundamental data!
You should also be aware that trading and speculation with CFDs, foreign exchange, futures, currencies, options, warrants, cryptocurrencies, shares, securities as well as other financial and trading instruments, whether leveraged or not leveraged, is always accompanied by an enormously high risk of loss, whereby you can lose part as well as your entire capital and possibly beyond (note margin call).
Before making any trading decisions or investments, always do your own due diligence and consider your investment objectives, financial circumstances, needs as well as your level of experience and expertise.
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These red GME days are giving me reverse confirmation biasI consider GME to be the strongest buy right now, especially given the amount of selling pressure seen in the last month.
Why would a big player attack a stock so violently? I don't know. It must be the case, though, unless retail suddenly -collectively- just decided to pack up their things and leave right before Gamestop and Loopring's partnership is announced. Hmm. :thinking_face:
Moreover, why would ANYONE sell the next viable, up-and-coming competitor to amazon? Sure GME might be overvalued if they had just KEPT THE EXACT SAME BUSINESS MODEL FROM 2020, but they are evolving and expanding rapidly.
Don't take my word for it. Go and see all the strides they've ALREADY made. They're not touting that they're going to be the next e-commerce giant; they're just doing it. Not to mention the rumored NFT marketplace, which would be nothing short of groundbreaking. All you have to do is take your head out of the sand.
GME load up, ask questions later. NFAThis may be my only non-TA post. I think everyone knows the story by now, and I don't think it has changed since January. If anything, the company is growing and becoming stronger by the day. Historically, GME has always found support at around 140$ range and I think it is logically a great price to buy in. The only TA I could give is the bullish divergence on the hourly. I'm personally going heavy. Invest wisely and thank you.
Is GAmeStop ready to moon?$GME made a bottom reversal on Friday to close at $159. That bottom looks like it’s behind us. I want to see it at least break the 5 day at $166.67, which I think where it’ll try tomorrow Monday. So it is not quite ready for a full reversal just yet. It has not broken the downtrend yet and the death cross is close.
Like and follow for more, comment if you want to discuss
Volume 4: Gamification of the Stock MarketsIt's time for another volume of SPYvsGME.
I haven't been writing much about GME for some time now because I was in a dark place and needed to take a break to clear my head.
I spent a majority of my time getting refocused on work, family and learning to trade in my spare time.
Now it’s about time I explain how I started my fixation on the stock markets and GME some 10 months ago (Jan 27th to be exact).
Elon's tweet was really what caught my attention, but it was the fact that Gamers were being attacked in the media for causing a market calamity that upset me the most.
I was offended. I'm a lifetime gamer ever since I turned on an Atari for the first time. I'm an OG Twitch lurker (before it was twitch, aka justin.tv). Playing games was my life.
What's really sad is I gave up video games to join the biggest game on the planet. The Stock Market!
It was quants (quantitative market analysts), MSM, and investors whining about gamers invading the stock market over covid that solidified my love for the game.
It wasn't until I got burned by VIAC and Archegos Shenanigans that made me realize everyone treats it, even the banks, government and main stream media, exactly like a Game.
After losing a gross amount of money on VIAC, and everyone telling me to suck it up kid, it made me realize the rules were the same as games.
There is always a Winner and there is always a Loser.
People on reddits wallstreetbets didn’t like my opinion very much because I saw through the DFV and citadel narrative the first weekend after Jan27th.
Without any prior knowledge of markets or GME I was able to dig past the noise and find real truths that nobody wanted to listen to. I still don’t like talking about what I found that weekend, and likely won’t try to anymore.
The more I dug that weekend, the more I realized it was all just a larger game taking place and gamers were the target.
Banks wanted all the stimulus money in the markets and knew the only way was through Crypto and Gamification of the stock market.
Truckloads of money were being invested into companies like Robinhood prior to Covid and Gamestop.
Robinhood was making crypto and stocks a gamer's dream, and they all knew it before GME.
The problem was that we gamers were being led to the slaughter where titans like hedge funds Archegos reign supreme.
What I don’t think they anticipated was how the best gamers are lifetime gamers. We never quit the game until we win. I don’t think they understood the gamers they were openly invited into the game are the people that made their lives so easy.
The coders, the accountants, the garbage men, the chefs, the waiters, the dishwashers, the delivery guys were all lifetime gamers. We would do our mundane jobs every day and live out boring lives until we got our chance to be titans in our dark rooms and basements with only a monitor to light our faces up.
You thought we were fat slobs that never left our mom's basement and screamed “MAaaam, More Hawt Packeets”. When in fact we are the core economic resource that made the wheels spin.
We thrived in our video games, we could be who we wanted to be and do what we wanted. Play the games we wanted and win the way we wanted. We were in control of our games. In control of our lives.
Now that we are here and markets have all our stimulus money, they want us to quit. Guess what. #NotLeaving.
10 months later, we’re still here. We’re like roaches, you can do everything to try and get rid of us. You may get some of us, but you’ll never get rid of us all.
You enticed everyone to load up on more bad debt and margin to collapse the world economy 4x over and now you don’t know what the hell to do with us.
I’ll give you the secret. Don’t try to force us out. Help us manage our lives and the game because those of us that want to be here are not leaving and continue to level up every day.
There are so many seasoned investors to learn from here on trading view, Reddit, Fintwit and discord rooms you can’t silence them all.
You can pile on rules and regulations but you fail to grasp that we are here to win. Rules are meant for games, the real gamers will play by the rules and win by the rules because of our ability to adapt to rules that are constantly being changed to slow or stifle our progress.
You are our opponents in the game. Expect to lose some because we are sure as hell are learning to win the longer we play the game.
Game On!
CRSP - WEDGE ON SUPPORT - PIVOT CANDLE CONFORMATION **ON ALERT**All,
Pretty easy to see why you would be bullish here. Few things need to happen.
1) full candle break watch for a gap etc
2) needs to break horizontal SR at 81.50s (full candle above)
3) market needs to hold this in here if it were to somehow lose these yellow levels would be big downside imo.
Add alerts and keep this on a short timeline maybe literally one more day.
Is history repeating itself? GameStop-the run up part two. It appears that GME is preparing for launch on the monthly time frame. Candles from pre January liquidity test are printing same pattern.
My preferred method of trading GME is quite simple. I buy big bags via IEX, I DRS as soon as shares settle, I rinse and repeat.
GME is over big 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 stock,
the stock now is on the pump and dump rule, if there is a piece of bullish news the share will go high,
we prefer to take the safe side for now while we see the market had crashed. Sell will be in a good position on this stock right now.
DWAC Epic Market On Close VolatilityInto the final minutes, $DWAC was trading at $39 a share at about 3:58pm. It then flushed to $36.69 by 3:59 only to reverse and close at $42.29 by 4pm. It hit a high of $59.39 before closing at $55.40 after hours. This is off of news that they have reached a fundraising target. With Jack gone and the recent distribution in names like $TWTR and $FB, is this a rotation into a competitor? Or is it a rotation from meme stocks such as $GME, $AMC, $CLOV, $BB, and $BBBY that have recently rolled over? Either way, this is nothing short of epic volatility.