Investigating GME (I am super excited)
I AM NOT A FINANCIAL ADVISOR. I passed the Series 6, but failed the SIE before I could take Series 63 hahahaha.
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Following current market cycles we seem to be having ourselves a bit of a melt up even with everything going on. We have also a lot of incoming news, rotation into beat up stocks, and a lot of hype built up on meme stocks. Could this be it?
To start, volume is finally picking up! Fees to borrow are crazy high and short #s are posted higher than usual. We are above the 200 Daily and Weekly averages. We are about to have a bullish MACD cross on the weekly. The fibs look setup for some bouncy movement. The list can go on and on...
Based off my gut, I am speculating that GME can fill the $290 range gap within the next few weeks. Although I think it is reasonable to assume a dip to test the lows is in order, I have been wrong in the past. Weekly MACD crosses usually have a dip for confirmation before continuing upwards. Therefore I am posting 3 possible scenarios I imagine the price action is headed.
Scenario 1 assumes rapid upside to fill gap with very minimal dips or consolidation. This would be wild!
Scenario 2 assumes a little dip and a little consolidation before push up towards filling the gap. I see this being the most realistic scenario given we could use a few days of consolidation and possible a dip as the market cools off from recent price action. Hoping this happens soon!
Scenario 3 assumes downside to at or around $58, which would scare out a lot of people and then gradual upside to fill gap with very minimal dips or consolidation. This scenario is a worst case scenario, and I imagine would only happen if the market has a fast sell off from recent highs dragging everything down.
Wherever the price goes from there idk yet! So we wait :)
*************
Please careful with any short term plays, you don't wanna be getting too caught up in premium with options especially if we drop. Also some additional wisdom is that sometimes its safest and smartest to hedge your positions just in case you don't get the timing right.
Not financial advice as always.
Please feel free to donate some BTC or ETH as always.
BTC Address:
1HrvESU1Kin56C9y12jvhTCfmy7euj5HKc
ETH Address: (ERC 20)
0x3154ed34fcfd6e54f1747c7f78b2397134fbb17c
**************
Following current market cycles we seem to be having ourselves a bit of a melt up even with everything going on. We have also a lot of incoming news, rotation into beat up stocks, and a lot of hype built up on meme stocks. Could this be it?
To start, volume is finally picking up! Fees to borrow are crazy high and short #s are posted higher than usual. We are above the 200 Daily and Weekly averages. We are about to have a bullish MACD cross on the weekly. The fibs look setup for some bouncy movement. The list can go on and on...
Based off my gut, I am speculating that GME can fill the $290 range gap within the next few weeks. Although I think it is reasonable to assume a dip to test the lows is in order, I have been wrong in the past. Weekly MACD crosses usually have a dip for confirmation before continuing upwards. Therefore I am posting 3 possible scenarios I imagine the price action is headed.
Scenario 1 assumes rapid upside to fill gap with very minimal dips or consolidation. This would be wild!
Scenario 2 assumes a little dip and a little consolidation before push up towards filling the gap. I see this being the most realistic scenario given we could use a few days of consolidation and possible a dip as the market cools off from recent price action. Hoping this happens soon!
Scenario 3 assumes downside to at or around $58, which would scare out a lot of people and then gradual upside to fill gap with very minimal dips or consolidation. This scenario is a worst case scenario, and I imagine would only happen if the market has a fast sell off from recent highs dragging everything down.
Wherever the price goes from there idk yet! So we wait :)
*************
Please careful with any short term plays, you don't wanna be getting too caught up in premium with options especially if we drop. Also some additional wisdom is that sometimes its safest and smartest to hedge your positions just in case you don't get the timing right.
Not financial advice as always.
Please feel free to donate some BTC or ETH as always.
BTC Address:
1HrvESU1Kin56C9y12jvhTCfmy7euj5HKc
ETH Address: (ERC 20)
0x3154ed34fcfd6e54f1747c7f78b2397134fbb17c
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