I love me some $GME.
We've got some technical 'scallops' forming here. It's going to pop, but the intensity will depend on the 'catalyst narrative'. Typically, timeframes to hit targets for triangles is 1/3 the base forming (puts us at $290 w/in 80 calendar days. aka CHRISTMAS).
Wait until $180 to buy on the pullback, or you could wait for the technical breakout (with volume). Buying stocks at the pullback you'd have a stop at $164.45, and a price target of $285, with a Risk/Reward of $15 loss V 110 gain = 7:1. Options will be a good play, but I'll wait for the technical breakout first, or see what the candles are doing on a breakdown. No matter what this is a buy in that red zone.
I'm at the point in my career where I'm not interested in playing weekly or monthlies so I'd buy the January monthly $210C (for about $15).
Good luck out there!
We've got some technical 'scallops' forming here. It's going to pop, but the intensity will depend on the 'catalyst narrative'. Typically, timeframes to hit targets for triangles is 1/3 the base forming (puts us at $290 w/in 80 calendar days. aka CHRISTMAS).
Wait until $180 to buy on the pullback, or you could wait for the technical breakout (with volume). Buying stocks at the pullback you'd have a stop at $164.45, and a price target of $285, with a Risk/Reward of $15 loss V 110 gain = 7:1. Options will be a good play, but I'll wait for the technical breakout first, or see what the candles are doing on a breakdown. No matter what this is a buy in that red zone.
I'm at the point in my career where I'm not interested in playing weekly or monthlies so I'd buy the January monthly $210C (for about $15).
Good luck out there!