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GME trade ideas

$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
GME TRENDS AND PRICE TARGETS, WE LOVE MEMESIf you've been following GME with me, you bought at 12.5 and below last month. Sell target 1 was 16.9, we came close but lost a tiny bit on the first topside pump. We bought the dip around 14.02 and below, and we were looking for 18, 21, and 25 with small retracements in between. I'm not sure, but per indicators, it seems we might see the higher targets of 21 and 25 before we see the retracement targets of 10 and 8. Faster and steeper we go up, the faster and steeper we drop, so remember, the time to be flinging money in without much worry was under 12.5. Now, you'll want to be trimming profits and compounding. How much should you sell and when? Only you can make that decision. However, feel free to use some my price targets if you're struggling to set your own. If you're new to trading or my charts. We usually buy and sell on the major trends, and use the breakouts as a chance to compound profits, or simply wait for the right trade to present itself, whether bull or bear. Just because we are selling at these levels in a longer term trade doesn't mean there aren't chances to jump into shorter term trades. However, USE caution at these levels. If you're bearish on this stock, you want to see it wedge down, and if bullish you want the breakout to the topside. I tried to make this chart as simple as possible. Squeeze targets included, but be REAL, it's unlikely, and it will be fast up and fast down should it occur. However, bears need to be real as well and realize that some of those topside numbers are very possible. Options get a little wild around the 26 and 32 dollar marks I believe. You only wanna play with weekly options if you know how they move in relation to the price or you'll get killed from theta. Good luck!
NYSE:GME
by nicktussing77
6
GameStop's Crypto Rollercoaster: The Rise and Fall GameStop ( NYSE:GME ), the once-famed video game retailer that captured the financial world's attention during the WallStreet Bets saga, has decided to shut down its NFT marketplace. After a year and a half of foraying into the crypto space, GameStop ( NYSE:GME ) cites persistent regulatory uncertainties as the primary reason for discontinuing its NFT platform effective February 2, 2024. The Rise to Crypto Prominence: GameStop ( NYSE:GME ) first hinted at its venture into the NFT space in 2021, a strategic move that raised eyebrows in the gaming and financial communities alike. By January 2022, the company had assembled a dedicated team of 20 individuals to manage its gaming NFT marketplace and disclosed a partnership with Immutable, signaling its intention to utilize Immutable X's blockchain. A $100 million fund, denominated in Immutable's IMX token, further solidified GameStop's commitment to the crypto realm. However, the excitement was short-lived, as the retailer promptly liquidated a significant portion of the acquired IMX tokens, offloading $47 million onto the market. This move raised questions about GameStop's long-term strategy in the volatile crypto landscape. Challenges and Layoffs: By July 2022, GameStop faced internal challenges, leading to undisclosed employee layoffs. Despite these setbacks, the company went ahead with the public launch of its NFT marketplace. However, the inclusion of Immutable X gaming NFTs didn't materialize until several months later, coinciding with the ousting of GameStop's CEO, who had overseen the company's initial foray into the crypto space. The Unraveling of Crypto Ambitions: Fast forward to the present, GameStop ( NYSE:GME ) has decided to bid farewell to its NFT platform, leaving traders and enthusiasts with questions about the company's abrupt exit from the crypto space. Notably, the discontinuation of its NFT wallet was declared approximately four months ago, raising eyebrows about the company's decision to stagger its departure rather than shutting down both products simultaneously. Regulatory Scrutiny and Uncertainties: GameStop ( NYSE:GME ) points to ongoing regulatory uncertainties in the crypto space as the primary driver behind its decision to cease NFT marketplace operations. The move comes amid a broader global conversation about the regulatory framework surrounding cryptocurrencies and NFTs. The absence of clear guidelines has left companies like GameStop grappling with the risks and challenges associated with navigating this rapidly evolving landscape. Conclusion: GameStop's rollercoaster journey into the crypto space, marked by ambitious plans, strategic partnerships, and subsequent exits, reflects the broader challenges faced by traditional companies venturing into the volatile world of digital assets.
NYSE:GMEShort
by DEXWireNews
GME positive accumulation by institutionsMy Force Accumulation indicator is showing that institutions began massive shares-accumulation since the pop-off from $12 to $17s. Have a short-term target price of low $20s. However, based on the amount of accumulation, it's possible that institutions on the long side of the trade are prepping for an actual squeeze (possibly a gamma squeeze?) and we blow past resistance on the way up. Short interest also seems to be increasing to make it look like GME falls when the SPY falls. In my opinion, they are trying to hide GME's launch within the general market's volatility. GME made a +50% this month, and media didn't bat an eye. One more +50% takeoff and we could be reaching close to the $30s. Strap in boys!!
NYSE:GMELong
by frosty4321
6