GME on the 4H chart appears to have topped out at the end of May after a decent rise of
30% after the May 2nd bottom. At present, the Hull Suite trend indicator is signaling a
reversal while the MACD zer0 lag indicator shows the lines have crossed under the horizontal
zero and the histogram has turned red. The RSI Indicator is showing a bearish divergence with
strength decreasing from 80 to 60. I see this as a short setup and will take a position of
put options with some long stock shares as risk management and hedging strategy. My target is
a 50% retracement of May's move up and a stop loss above the swing high. GME is still above
the POC line of the volume profile. Once it drops to that value, I expect bearish momentum
acceleration. Earnings are coming. If in profit before earnings, I will take off half the position
for the earnings and then expect GME to rise and stop out the remaining position or drop
quite a bit more.
30% after the May 2nd bottom. At present, the Hull Suite trend indicator is signaling a
reversal while the MACD zer0 lag indicator shows the lines have crossed under the horizontal
zero and the histogram has turned red. The RSI Indicator is showing a bearish divergence with
strength decreasing from 80 to 60. I see this as a short setup and will take a position of
put options with some long stock shares as risk management and hedging strategy. My target is
a 50% retracement of May's move up and a stop loss above the swing high. GME is still above
the POC line of the volume profile. Once it drops to that value, I expect bearish momentum
acceleration. Earnings are coming. If in profit before earnings, I will take off half the position
for the earnings and then expect GME to rise and stop out the remaining position or drop
quite a bit more.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.