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GAMESTOP CORP. AGAMESTOP CORP. AGAMESTOP CORP. A

GAMESTOP CORP. A

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GS2C trade ideas

$GME nearing support zone, loading for next pushGME continues to follow the well-known algorithm from recent years. The double top in May/June 2024 led to a significant drop in the stock, a phase of consolidation, and this rounding bottom typically concludes a cycle. This should be completed around the $18-20 range (also a previous resistance which has now transformed into a support zone). Additionally, GME announced yesterday in an 8-K filing that they have canceled the possibility of a $250m loan arrangement with various banks, opting instead to rely on their own cash reserves and cash from operations. Earnings are due on September 10, 2024. A breach of the $18 support zone could lead to further declines, with $10 as a potential final target. However, if the current algorithm model continues, the end of this cycle should be near, and a push in the stock price should follow soon. Key levels to watch initially are: $22.50, $30.
NYSE:GMELong
by DoriTradesIt
4
GME Short IdeaGME finally broke below critical support around 23.50 and has been consolidating since. It did have a downtrend breakout, but it didn't move up much, just kind of broke out sideways, which is a bearish sign IMO. I think shorts are good anywhere under 23.50, but it would be nice to get a retest of the 23.50 area for an entry. However, it has already retested once and just broke this ascending wedge to the downside, so this may be the best entry, somewhere in this area. Even if it did rally some if you bought time you could hold as long as it stays under 23.50.
NYSE:GMEShort
by AdvancedPlays
4
8/23/24 - $gme - the OG meme, game time?8/23/24 :: VROCKSTAR :: NYSE:GME the OG meme, game time? - first, i debated whether to write this. but anyway. this is an open blog to myself. if you guys want to interact with me or this content, great. but it's a weird trading log because i've always struggled to capture my ideas and reflect on them. - with that out of the way. i just did a lil ape into some GME calls for next week. nothing major. but 20 bps. so not insignificant for some weeklies. IV sub 50% seems kinda cheap considering a few factors. 1) the stock has held up nicely since the recent move in early may. still hugging the .786 fib. TA matters more for this one, so no fundamental stuff here. 2) earnings is not next week, but the following. the apes usually show up before the event, but not this early. they're playing salad and space laser memes at the moment (i wish i was joking, but it's a good thing to have donks at the poker tables sometimes). what this means is that any bid to the stock might allow you to see IV inflate, stock does a lil gamma gamma move and you're sitting on a double and can remove half the size and ride free on the rest. that's my current plan. 3) NASDAQ:NVDA next week. ALL ELSE EQUAL the market is in risk on mode. y day a lil dippity doo dah was nothing to scare away ever increasing global M2 and powell is signaling similar. while i don't think this means we still don't have one more leg down (which is why my portfolio is pretty consolidated in 35% discount to NAV OTC:GDLC and some NASDAQ:NXT that is already in value zone... both of which i know well... while playing earnings like NASDAQ:PDD next week and other event driven stuff, i'm still pretty cash heavy with flexibility). 4) i am picking up increasing newsflow that the show here isn't over. i'll leave it at that. the stock px tells me there's a greater than 50% probability of this. institutions also have their hands around it at this pt and short interest remains high. 5) i think all else equal risk to the downside given how the stock has traded remains low for the upside potential. it's been some dead money in the last months which is why IV is so low and we are a week and a half away from EPS which is enough of a catalyst to start the gossip, tweet machine again. the OG meme has ample cash to not need a raise. not burning a ton. trends suck, yes. but that's all known knowns and so i'd argue "priced in". ... so that's that. perhaps i should start a degen friday once a week post. i've had some weird rec's to this extent. but again, capturing my thoughts for myself. if you have something to add, i'd genuinely love to know it. it's more fun to do this in a group which is why i'm airing out my laundry and trades. still shooting well, and attempting to remain humble. but looking to have fun on this one. i take the shots on these where i think my odds are better than 50/50 and i keep the sizing reasonable. memestonk <3 V
NYSE:GMELong
by VROCKSTAR
3
$GME - Small Update"PLEASE READ" Seems that the last little indication of something happening didn't actually quite pan out according to my data. There's very little chance of something occuring this and next week although the possibility exists. I see from a different dataset that i have that it's more likely that we may see something around the 5'th of August or 28'th. It's WAY too early to say anything for sure, these are just very very very early indications of something occuring. My data may flip negative way before we even reach these dates. Obviously i will let you know before those dates wether my data still looks positive or if it's flipped negative. The above chart will be invalidated if it flips negative, so please keep an eye out on UPDATES to my post as these are more important than the graph i've drawn. I have a lot of data but nothing publically digestible/understandable yet which is why i'm not sharing anything here today. It would take too long to explain the charts/data that i have and very few people would understand, instead i'm letting you know verbally what's happening so you don't have to worry about the analysis part.
NYSE:GMELong
by leenixusu
20
A further 1700% move to $600 for Gamestop in 2024?Bet that title got your attention. Well it might not be as crazy as it seems. An exercise performed by yours truly is to scan through monthly charts on the beginning of each new month. Takes more time than you imagine. Gamestop is certainly worthy of attention on the monthly time frame. On the above monthly chart: 1) It is without question, past resistance confirms support with the close of May on the horizontal support / resistance. Blue arrows. 2) The print for May is a bullish engulfing candle. A candle besting those that printed in May of 2020. 4 years later… Look left. 3) The “Breakout” in stochastic RSI is significant on this time frame. Momentum is surging. 4) The Bull flag pattern breakout is impressive but not yet confirmed. Ideally a backtest would print around the $15 dollar area. 5) Should a back test confirm support then price action is forecast to make a run to just over $600. Is it possible price action delights short sellers with urgently needed corrections? Sure. Is it probable? No. Ww
NYSE:GME
by without_worries
30
If you think $GME trades irrationally……Do you think the spikes we have seen on GME recently are just mindless fomo? Take a look at the weekly chart using Fibonacci retracement from approx the bottom of Roaring Kitty's super rally starting the week of his first YouTube video in 2020 to the top Now that we’re in 2024 and Roaring Kitty is back Where have they spiked to and where did they land? Where are we now? Remember every level of the fib retracement is important You decide HODL ROOOOAAAARRRRR DIAMOND HANDS
NYSE:GMELong
by Fibonaccivix
14