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GME trade ideas

$GME: Return to $15? 🚀🚀🚀Hi everyone, In my previous analyses, I anticipated a potential price drop that could form a double bottom pattern if GameStop earnings weren't great. Recently, GameStop's stock failed to surpass a crucial weekly indicator, leading to a sharp decline. Moving forward, if the stock rebounds, I'll be monitoring its response to the first resistance level; breaching that could signal a push towards significant resistance on the daily and weekly charts. Will update here if something exciting happens. Maybe insider buying in the next 2 weeks?
NYSE:GMELong
by SierrasTrades
$GME: 🚨 Most Important TA Ever. $21 and beyond 🚀💎🙌Hi Everyone, In my previous posts, I explained that NYSE:GME needs to remain above crucial levels to ascend, predicting a bounce between $13-$16 before earnings. Here we are, and according to my indicators, $15.44 needs to be surpassed and maintained tomorrow for a climb to $21 . Currently, during Robinhood's extended scam hours, it's at $15.68, peaking at $15.78. What happens after reaching $21? If GameStop reports profits exceeding Wall Street's expectations, we could see a breakthrough above this significant resistance level, potentially igniting a meteoric rally to $32 and then $41. At $41—where I'd consider taking profits—some resistance is anticipated. Beyond that, $56 and $298 are the next targets. However, a surge to $21 before the market closes could see a retest of this level, with real momentum expected if it breaks during regular trading hours. And if we gap down? A gap down could occur if GameStop's earnings beat expectations but with unimpressive profit margins, potentially leading to a double bottom pattern before a subsequent rally in after-hours trading or the days following. Conclusion Get pumped! Envision this: Ryan Cohen and team doubling down post-profit, pushing the price to test $41 and ultimately reaching new highs, with potential buybacks on the horizon. As always, this is not financial or investment advice. Trade cautiously tomorrow, folks! I'll try to post an update tomorrow. If you found this insightful, please leave a like or follow. 🚀
NYSE:GMELong
by SierrasTrades
4
GameStop Balanced Financial Struggles with Bullish BreakoutAmidst a turbulent period marked by declining stock prices and revenue woes, GameStop Corporation ( NYSE:GME ) finds itself at a crossroads in the gaming industry. Despite facing significant setbacks, including a staggering decline in stock price and revenue, the company maintains a robust balance sheet and strategic initiatives that hint at a potential turnaround. As GameStop ( NYSE:GME ) grapples with its financial challenges, investors closely scrutinize its recent decision to invest excess cash into other ventures rather than pursuing stock buybacks. This move has sparked debate among stakeholders, raising questions about the company's long-term strategy and allocation of resources. With the anticipation of the company's upcoming financial results, scheduled to be unveiled on Tuesday, analysts and investors alike eagerly await insights into GameStop's ( NYSE:GME ) performance amidst a slowing gaming industry. Despite recent revenue declines, the company's ability to narrow losses through cost-cutting measures offers a glimmer of hope for a potential rebound. Technical analysts point to a compelling bullish breakout potential, as GameStop ( NYSE:GME ) forms a falling wedge pattern nearing its confluence zone. This bullish signal, coupled with an upcoming earnings announcement, underscores the pivotal moment for the company's trajectory, with $15 emerging as a key milestone to watch. In the face of adversity, GameStop ( NYSE:GME ) retains its resilience, bolstered by a strong balance sheet boasting substantial cash reserves and minimal debt. While challenges persist, the convergence of financial stability and bullish technical indicators presents an intriguing investment opportunity for discerning investors seeking to capitalize on potential upside momentum. As GameStop ( NYSE:GME ) navigates these uncertain waters, the company's ability to strike a balance between addressing financial struggles and leveraging breakout opportunities will ultimately determine its path forward in the ever-evolving gaming landscape.
NYSE:GMELong
by DEXWireNews
$GME: 🚨 $21 next target 🎯Hello everyone, Hope everyone is excited as I am for this next move up. If NYSE:GME is able to break above $15.81 and hold it there with a 4hr or daily close, then price should move up towards $21. Conversely, if NYSE:GME fails to break above and hold above those levels, then NYSE:GME will fall down to the $12.40 area with a hopeful bounce at $13.50. Overall, I'm still bullish on NYSE:GME because the indicators suggest it is still in a bullish configuration. Since my last post where I forecasted a pop to $15.76, NYSE:GME may retest $15.05 before bulls take over and break above $15.81 to make the move to $21. Good luck, everyone! As always, not financial or sexual advice. 🚀 I will try my best to update this post once we see some action on either side.
NYSE:GMELong
by SierrasTrades
4
GME's Swing to $290? Falling Wedge Breakout Alert! 📊✨ GameStop's Falling Wedge Formation: A Swing Trade Analysis Introduction: In the ever-volatile realm of the stock market, GameStop (Ticker: GME) has caught the eye of traders once again with its intriguing chart pattern formation. A closer look reveals a falling wedge setup, a classic bullish pattern that suggests a potential reversal from the downtrend. Analysis: The falling wedge pattern in GME's chart is characterized by converging trend lines that have been forming over the past months. This pattern typically indicates that the selling pressure is starting to wane, and a bullish reversal might be on the horizon. As we dissect the chart, the immediate target for this swing trade appears to be the top of the wedge. This level, acting as a significant resistance in the past, could be the first milestone GME might hit as it attempts to reverse its downtrend. Long-Term Swing Target: Looking beyond the immediate resistance, the longer-term target for GME could be in the vicinity of the ~$290 region. This ambitious target is derived from the height of the wedge projected upwards from the breakout point, a common practice among traders to determine potential swing targets in wedge patterns. Strategic Considerations: For traders considering this setup, it's crucial to wait for a confirmed breakout above the wedge pattern. Volume should accompany this breakout to validate the move, providing a stronger conviction for the long position. Risk Management: As with any trade, risk management is paramount. Setting a stop-loss below the lower trend line of the wedge or at a recent swing low inside the wedge can help mitigate potential losses should the pattern fail to materialize as expected. Conclusion: The falling wedge formation on GameStop's chart presents an intriguing opportunity for swing traders. With a careful approach, focusing on confirmation and risk management, this setup could offer a favorable risk-reward ratio, aiming first for the top of the wedge and then potentially for the longer-term target in the ~$290 region. Disclaimer: This analysis is for educational and informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
NYSE:GMELong
by STP_MrNodeItAll
3
$GME - That time of the year againIt's a bit early to celebrate, but i see decent signs of another GME run happening soon, at least within February. I i said, it's a bit early and the data needs several more days of prints to verify, if that's the case, i'd be setting this post to "Trade Cancelled" and i'd make a new one in it's place when its time. Now that warnings have been given, it looks like we might be having a strange and weirdly early run on GME, possibly covering before earnings, repositioning and dumping it on earnings. If the above is true, Vix may be on its way to 19 by next week, SPY may be wanting to dump. The data imgur.com There is a spike in progress. If it doesnt fizzle out, we're going to see some price action soon. The timeframe is still unclear. Initially i think we could see something next week but i need more data to verify. It is possible that this may be a buildup for a post-opex run, but it's still too early to say. This run doesn't quite fill all my criteria for a run, but i'm posting it just in case. I also have secondary data indicating that this is already a dud/no run, but here we are anyway. So we may see something: -Next Week -Around the 22'nd -Or not at all Updates daily. If i think nothing's happening i'll be setting the post to "Trade Cancelled". I wont be reading or replying to comments.
NYSE:GMELong
by leenixusu
25
Is The Game Stopping for GME?Despite its pending return to the $50-$75 range, Gamestop likely has a timultuous road ahead as it tries to sustain relevancy in a time where games can be purchased and downloaded without ever leaving the comfort of one's home. There is also an increase of demand for crypto related gaming, where real world value is given to in game characters, and items. This is unlike the gaming world that's been dominated by Gamestop for so long, where consumers generally only have an output of value (cash). I won't try to speculate on matters outside of the chart any more than I already have, but speaking on the chart's structure itself, it remains to be seen if Gamestop will withstand the long term descent which will likely put each stock below $0.25. If so, there will be a lot of business restructuring that has to take place. In Elliott Wave terms, it seems like a bullish extended flat correction has concluded. Basically, what generally follows is a new low; a new all-time low in this case.
NYSE:GME
by DigitalSurfTrading
5
GME looks to be getting ready for a sling-shot bull-trap!With the recent bankruptcy of Evergrande, forcing the liquidation of its many short positions, rumored to include equities like GME, AMC, etc., many traders are expecting another brief 'short squeeze' as a result. The charts seem to indicate that GME could make a nice move from current levels ($14.75), possibly even dropping to the bottom of the wedge to the $13.90ish level before bouncing to the upper trend line (white dashed line) to approximately the $18.42 level in the next 15 to 20 days (mid-February), followed by what I believe will be a sharp reversal from that level to a downward move over the 2 to 3 weeks following, back down to the $11.83 level. If GME falls below the $11.83 level (lower white dashed line) on the charts, we could easily see the price drop below the $10 level. If you study the chart, GME is pretty consistent about making a move, falling back, then retesting at or near the top of the previous high before pulling back, which in some cases gives you a chance to break even on a bad trade or even double-tap a successful trade. Either way, GME can blow the doors off any size account if not traded with due diligence. No potential gain is worth blowing out your account. Great traders trade with discipline, and disciplined traders stand the test of time because they never put their ability to trade at risk. I personally never put more than 25% of my account at risk on a single trade. Don't take these charts as gospel, but don't ignore them either! There are two types of traders in my books: followers/copy-traders and leaders/trail-blazers. Which one are you? Good luck, and always use a stop or a buy-limit hedge!
NYSE:GME
by MetaShackle