GME on a weekly chart has clear the chop zone on that indicator and is now above the POC
line of the long -term volume profile indicating that bullish momentum is greater than bearish
momentum. I will take a long trade here targeting the pivot highs of 2022 for three quarters
of the trade and the base of the high pivots of 2021 for the reminder. 21.7 below the POC
line will be the initial stop loss to be moved to break even upon a price rise of 10% from the
entry and then changed to a trailing loss of 10% upon another 10% price rise. I believe that
GME is heavily shorted; Accordingly, a short squeeze could add to the push higher.
line of the long -term volume profile indicating that bullish momentum is greater than bearish
momentum. I will take a long trade here targeting the pivot highs of 2022 for three quarters
of the trade and the base of the high pivots of 2021 for the reminder. 21.7 below the POC
line will be the initial stop loss to be moved to break even upon a price rise of 10% from the
entry and then changed to a trailing loss of 10% upon another 10% price rise. I believe that
GME is heavily shorted; Accordingly, a short squeeze could add to the push higher.
Comment:
News Catalyst www.cnn.com/2024/05/...ing-kitty/index.html
Trade active:
Price is well above the entry now so the stop loss is changed to a trailing 10%. Full position riding the momentum. Call options did 10X and a partial on the 20 calls taken.
Trade closed: stop reached
Comment:
Bearish move with shorts revenge trading price down. Move to watch list. Keith Gill may still have another move.
Trade active:
GME continues with bearish momentum. Holding and patient.
Comment:
GME moved down today . May be a reversal candidate with an opening bell pump on Thursday morning much like Tuesday 5/21.
Comment:
Comment:
GME needs to get over 21.75 for bullish bais to dominate. Will watch for the same.
Comment:
that is to say based on the volume profile if GME can get over 21.75 it has a good chance of squeezing toward 30
Comment:
while moving up through a volume void in the profile ( low volume area between two high volume nodes)
Comment:
GME had a decent upmove today but still finished the week lower than the start.
My threshold to go long is 21.75 as per the POC line of the volume profile. Anything
between current price and that is more or less considered sideways chop. Time will
tell.
My threshold to go long is 21.75 as per the POC line of the volume profile. Anything
between current price and that is more or less considered sideways chop. Time will
tell.
Comment:
if anything the rise to the bottom of the high-volume area ( purple jagged line) is
a potential signal for a short entry with $1.50 or more per share downside.
a potential signal for a short entry with $1.50 or more per share downside.
Trade active:
Shares taken long Friday afternoon before the Monday holiday and again this afternoon. Holding full position watching for more to see if GME can conquer the
shorts with a bit of a squeeze.
shorts with a bit of a squeeze.
Trade active:
GME may break down and not get the anticipated mean VWAP bounce. Patience
required.
required.