GS2C trade ideas
Technical Analysis of GameStop Corporation (NYSE: GME)GameStop Corporation (NYSE: GME) closed at $30.45, exhibiting a significant bullish momentum with a substantial increase of +74.40% in the latest trading session. The candlestick pattern shows a strong bullish engulfing pattern, indicating a potential continuation of this upward trend. The Ichimoku Cloud analysis reveals the price has broken above the cloud, suggesting a shift from bearish to bullish momentum.
Key Indicators and Moving Averages
Relative Strength Index (RSI): The RSI stands at 88.24, indicating that the stock is in overbought territory. This suggests a potential for a pullback or consolidation before any further upward movement.
Stochastic Oscillator: With a %K value of 79.86, the stochastic oscillator also confirms the overbought condition.
Moving Averages:
The Exponential Moving Averages (EMA) are all signaling a strong buy across different periods (10, 20, 30, 50, 100, 200 days).
The Simple Moving Averages (SMA) also indicate a buy signal, reinforcing the bullish sentiment.
Oscillators and Momentum
Momentum (10): With a value of 19.16 and a buy signal, momentum is strong, suggesting sustained upward price movement.
MACD Level (12, 26): The MACD level of 2.48 with a buy signal further supports the bullish outlook.
Average Directional Index (ADX): The ADX is at 42.29, indicating a strong trend is in place.
Financial Overview
Earnings Per Share (EPS): The forecast for Q1 2024 is -$0.09, with revenue estimates at $1.05B. The earnings surprise in recent quarters has been mixed, with notable positive and negative deviations from estimates.
Profitability Ratios: The return on assets (ROA) and return on equity (ROE) are negative, indicating profitability challenges. However, the current ratio of 2.17 suggests strong liquidity, and the low debt-to-equity ratio of 0.45 indicates financial stability.
Speculative Price Targets and Trading Strategy
Short-Term Price Target (1-2 weeks): Given the current bullish momentum, a speculative price target of $35.00 is achievable if the volume supports the price action.
Medium-Term Price Target (1 month): If bullish momentum sustains, a target of $38.00 is feasible, considering historical resistance levels and overall market conditions.
Long Position:
Entry Point: Consider entering a long position if the price breaks above $31.00 with strong volume.
Stop Loss: Set a stop loss at $27.50 to protect against potential downside risk.
Target: Aim for a short-term target of $35.00 and a medium-term target of $38.00.
Short Position:
Entry Point: Consider a short position if the price shows signs of reversal and falls below $28.00.
Stop Loss: Set a stop loss at $32.00 to limit losses.
Target: Target a pullback to the support level at $24.00.
Conclusion
GameStop Corporation exhibits strong bullish momentum, backed by significant volume and favorable technical indicators. However, the overbought conditions suggest a potential for short-term consolidation. Traders should watch for price action around key levels to confirm their entries and manage risk with appropriate stop losses. The next few days to weeks will be crucial to determine if GME can sustain its upward trajectory or if a correction is imminent.
Squeezer $GMEwww.tradingview.com www.tradingview.com
NYSE:GME Squeezer aside It will take time, IF squeezer happens it can fast track this
Ill Update as we go
This could be a much larger Move.
If this is a 5 wave of one this means were in a 1 of 5 impulsive move up to Pre NASDAQ:TSLA split prices
I'm not saying anything
I just like the stock
GME Breaks HH the Liquidity Generated 3 years ago might be used in 2021 GME unjustified and most likley no t approved by many Financial Institutions Created its historic HH , this means Liquidity generated by that moment is still around to create a new HH with this Trend Change and Structure Break which so precisly grabs liquidity to generate its HH of the day.
GME Gamestop Technical Analysis and Trade IdeaHistorically, GME (Gamestop) has been in a downtrend when we look at the monthly time frame. However, recent developments indicate a potential shift in the trend. As we zoom in on shorter time frames (weekly and daily), we observe signs of bullish momentum. Buyers may find opportunities in these time frames.
In a video, we explore a potential trade idea. First, on the 4-hour chart, we notice that the price has retraced into an optimal buy zone. Next, we delve into the 15-minute chart, waiting for specific price action confirmation before getting involved.
Remember that trading carries inherent risks. This information is intended for educational purposes only and should not be considered financial advice. Always manage your risk wisely. 📈👍
GME GameStop Options Ahead of EarningsIf you haven`t sold GME before the previous earnings:
Then analyzing the options chain and the chart patterns of GME GameStop prior to the earnings report this week,
I would consider purchasing the 13.50usd strike price Calls with
an expiration date of 2024-3-28,
for a premium of approximately $1.41.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GME Euphoria time?Analyzing GameStop is always difficult. I have seen the previous reddit pump some years ago, and it was pretty hard to find possible entries and reversal pattern. But this time the chart is giving us some useful info. We can see a break above daily trendline, and the black box a liquidity zone (actually a resistance). The main chart looks bullish, and today's pump can be a signal of a possible round 2. To confirm a bullish trend, we must close a daily candle above the black box, that will eventually help us reaching the top again. If the community will try to repeat the miracle again, this time funds will be prepared and it will not so easy. But, on the other hand, community is stronger now and probably bigger. Let's see
GME. wouldn't $60 be crazy? -Possible imoGME is a runner and its limits have proven to sometimes be non existent. I took a lotto position reference - $29ish. Let's see what happens. I don't care what happens to the money here as it's obviously risky but still feels early.
Feel free to watch, no need to take every trade
NFA - just putting it out there. ALL OPINION :)
120 or 130$ incomingIf we analize this one as the sentiment in solana token, this will happen like this year
GameStop Stock Soars 45% on 'Roaring Kitty' Posts on Twitter GameStop shares surged 45% as markets opened on Monday, with Keith Gill, also known as "Roaring Kitty," posting to social media for the first time in nearly three years. Gill was a key driver of the meme stock craze of late 2020 and early 2021, rising to prominence due to his substantial bets on the stock. Gill's enthusiasm over the stock drove the online excitement, along with other figures, including activist investor Ryan Cohen, who worked his way to the GameStop ( NYSE:GME ) board and was named CEO last year.
Gill was a streamer who bought $53,000 worth of GameStop ( NYSE:GME ) shares in 2019 after learning about the investing world and becoming convinced that the retailer was undervalued. At the peak of the meme stock surge, Gill's position was worth an estimated $48 million. He eventually said goodbye to his online persona, last posting to YouTube and X (then Twitter) in 2021.
Users of the WallStreetBets subreddit, the online community that was central to the GameStop ( NYSE:GME ) surge of 2020, expressed excitement about Gill's return, with many top posts on the forum about Gill's post or GameStop's price as of Monday morning. GameStop ( NYSE:GME ) and the company's stock symbol, NYSE:GME , were each trending on X Monday morning, with many users celebrating Gill's return and posting about their investments into the stock.
GameStop shares ( NYSE:GME ) are still well below the all-time high of $120.75 they reached on Jan. 28, 2021, but more than double its value from the start of May.
GME Quadruple Inside DayGME is printing a quadruple inside candle on the daily chart. Also holding right above the 200 EMA on declining volume. Due for a move one way or the other. 22% short float, so my guess is up, but we'll see!
GME SQUEEZE FORENSICSDissecting historic price action to discover trend windows within the short squeeze cycle
Gamestop strong buy above $25, next bounce spot $7.50 bearishGamestop's last line in the sand is $9.50-$9.70, where it bounced initially back during the first run up.
The next bounce spot is $7.50 but momentum will be high to the downside. If this truly were to MOASS you would buy it at $25+ when it clears liquidity levels and develops upside momentum.
Currently, this appears to be heading to zero. I would not have a position in this company.
4hr Cup & Handle breakoutWhat an absolute monster Cup & Handle on the 4hr. GME has been on quite the run lately. If this continues we could see another $3 to $7 gap up over the next week or so according to the Fib Ext. And being DFV is now active again, this may be the catalyst needed to spark the fuse on this weekly Bull Flag that has begun to finally breakout.
Shares of GameStop ($GME) Stock Climbed More Than 13% ThursdayGameStop ( NYSE:GME ) stock has risen 13.1% to its highest close since December, marking a resurgence for the videogame retailer and original meme stock. The stock closed at $18.01, its highest since December 28, when it ended at $18.07. GameStop ( NYSE:GME ) shares also recorded their biggest single daily percentage gain since May 3, when they climbed 29.1%. Despite facing significant challenges, GameStop's stock price has surged, reminding investors of the 2021 surge from less than $10 per share to $120.
Revenues in Q4 dropped to $1.79 billion, down from $2.2 billion in 2022, and analysts expect revenues for 2024 to be $4.9 billion followed by $4.7 billion in 2025. The gaming industry is changing, with people preferring to buy gaming consoles online directly from manufacturers or third-party sellers. GameStop's attempts to diversify its income have failed, with its entry into the Non-Fungible Token (NFT) industry failing.
Despite this, GameStop ( NYSE:GME ) still has one of the best balance sheets in the industry, with little debt of just $17 million and capital leases of $386 million against cash and short-term investments of almost $1.2 billion. In 2023, the company made almost $50 million in interest income, helping it turn a small profit of $6.5 million.
The daily Price chart shows that GameStop's stock price has soared due to a falling wedge pattern, which is one of the best-known reversal signs. Traders need to be cautious of a trend reversal as Gamestop stock ( NYSE:GME ) has a Relative Strength Index (RSI) of 75.89 which is in the overbought region.
$GME Macro breakoutNYSE:GME Macro breakout, from 3 year downtrend on weekly. Previous trendlines sitting below 200D, show historical measured move (Yellow square).
GMENYSE:GME
4 inside day candle/bull flag on the daily chart.
Current position: 20C 5/17/24 1.14
Small Position
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GME's rally takes it to the 76 resistance. Parabolic rally recently in GME. Gained a lot of attention but, as of yet, it's not broken out of the simple downtrend structure.
In setups like this there's always a 1:3 - 1:5 RR trade fading the rally into the 76 resistance (Caveat of gap risk in stocks).
If the downtrend is to continue, this should be about the end of the rally.
GME, Potential Bull MarketGME is getting a double bottom on the higher timeframes,
Similarly to the previous bull run that lead to a 4,500%+ run.
I have the measure move slightly below the last ATH.
with a Gold Pocket around $78-$81
Things to consider
With the recent pump of 78% since it's recent local bottom,
it may or may not be a good idea to enter,
It's at a really strong resistance,
Volume is lower that previous candles these sizes.
It may pull back 15%-40% before continuing, if continuing.
Thank you.
$GME 🚀 It's Moon Time! PT:$11.56 & $14.37Hello everyone,
I know you all have been waiting for a big update. Here is the tea:
First PT coming in at the daily at $11.56. Break above the daily and the next PT is at the weekly $14.37. These two will act as very hard resistance and if both are to break then we will head to the monthly at $21.10, but we will analyze that part when we cross that bridge.
RSI indicates that GME is in the bull zone right now. The MACD is slowly curling up and if the lines cross above the 0 line, then that would indicate a very very bullish signal.
If GME rejects the daily, then price will trend lower and will test the hourly at around $10.62ish.
Anyways, there is room to run here folks! Strap in because this is just the beginning. $9.94 was the low and it won't be returning there anytime soon.
Not financial or sexual advice.
GameStop Corporation Technical Analysis.As of the latest market data, GameStop Corporation (NYSE: GME) exhibits a complex technical landscape that warrants an intricate analysis for potential investors or traders looking to navigate the volatility inherent in this stock. We will dissect the available data, which includes ownership structure, valuation, growth and profitability metrics, revenue streams, dividend history, technical indicators, and a one-year forecast, to provide a nuanced understanding and predictive outlook.
Ownership and Valuation Metrics:
The ownership structure shows a predominant free float with 87.18% of shares, suggesting a relatively high degree of liquidity which can both present opportunities for high volume trading but also contribute to potential volatility.
With a market capitalization of $3.40B juxtaposed against a substantial price to earnings ratio of 515.57x, the stock presents a speculative stance, indicative of investor sentiment heavily pricing in future growth expectations.
The price to sales ratio at 0.63x appears more grounded, providing a silver lining that the company's stock price may not be overly inflated relative to sales.
Growth Trajectory and Profitability:
The annual net margin trajectory suggests an improvement, with the margin turning positive in 2023. This reversal from previous years' losses is a bullish signal, reflecting an effective management strategy and potential operational efficiency gains.
Revenue breakdown indicates a diversified portfolio with significant contributions from hardware and accessories, software, and collectibles, denoting a balanced approach that could mitigate sector-specific risks.
Dividend History:
GameStop has ceased dividend payouts, evidenced by a dividend yield TTM of 0.00%. This can be viewed as a strategy to reinvest in the company's growth or a reflection of the need to conserve cash, given the competitive retail landscape.
Technical Indicators and Price Prediction:
Oscillators like the RSI at 34.35 signal neither overbought nor oversold conditions, leaning towards neutral sentiment.
The Stochastic %K and MACD indicators present a conflicting view with a neutral to bearish bias, suggesting that short-term momentum may not be in the bulls' favor.
Moving averages paint a bearish picture, with significant selling recommendations across multiple time frames, pointing to a potential downtrend.
The Ichimoku Cloud on the weekly chart is bearish as prices trade below the cloud. The conversion line (blue) below the baseline (red) further indicates downward pressure.
Price Targets and Trade Strategy:
Based on the technical forecast and pivot points, one could speculate that should the price action stabilize above the pivot point at $19.00, it may open the door to test resistance levels at $26.18 (R1) and $34.83 (R2).
Conversely, a break below the classic S1 pivot at $10.35 could see the stock testing lower supports at $3.18 (S2), a level that would present a highly oversold state and potential buy opportunity for risk-tolerant traders.
Based on the one-year forecast, the stock has a potential upside of +40.14%, averaging at -18.02% with a downside risk to -49.37%. A speculative target price could be set at $15.50, denoting a 40% potential increase from the current levels. However, this should be taken with due diligence and monitored closely for adherence to one's risk management protocols.
Conclusion and Actionable Insights:
Investors could consider accumulating positions if the stock shows resilience above the S1 pivot point, with an eye for a mid-term hold aiming for R1 or R2 targets.
Traders might seek short-selling opportunities, provided the moving averages continue to indicate sell signals, particularly if the price remains below key moving averages on higher time frames.
All entry points should consider the MACD and RSI for confirmation, and exits should be predefined to manage risks effectively.
It is vital to monitor upcoming earnings reports and market sentiment shifts, as these could drastically alter the technical forecast presented herein.
$GME #GME GameStop price going upWhy is GameStop price doing what it is doing?
It is clear that the price has nothing to do with Company news, investor sentiment or fundamentals and that the price is controlled within a fixed set of parameters. Main stream media, mostly owned and/or controlled by hedge funds, are used to try and make sense of it all for Joe Public.
