GameStopLong
$GME: The Next Big Move You Don't Want To Miss 🚀
Mis Ă jour
Hi everyone,
Welcome back to another technical analysis update that has proven effective! Here's a quick recap:
RECAP:
Using our MTTSA/Metric Pro indicators, the price moved above the hourly mark indicating an upward trajectory toward the daily mark, which it successfully reached. After a brief dip to the $10.70 range, it climbed back above the hourly and broke past the daily level. The price then ascended to the weekly resistance, previously unbroken in three attempts, but this time, GME surged through it, reaching a new daily high of $17.43.
CURRENT STATUS:
I believe the options chain is primed for a Gamma Squeeze, marking the beginning of a potential major move toward the monthly resistance at $20.
What is a Gamma Squeeze?
A gamma squeeze occurs when the price of a stock rises sharply as market makers who sold call options must buy more of the stock to hedge against their increasing exposure, thus driving the price even higher.
CURRENT STATUS cont.:
If GME can surpass and sustain above this level, we might witness a squeeze surpassing the one from 2021. Using the Fibonacci sequence from the top of 2021 to the recent low, our targets are: 0.236 ($17.92), 0.382 ($25.79), 0.5 ($34.63), 0.618 ($46.49), and 1.618 ($564.22). GME needs to break past the 0.236 level to progress to the 0.382. Watch for resistance at the 0.5 and 0.618 levels. Additionally, GameStop has broken out of a three-year wedge pattern, which could be significant.
DOWNSIDE SCENARIO:
Should there be a retracement, look for GME to potentially fall back to the weekly level at $14.36.
CONCLUSION:
As always, this isn't financial advice, but prepare yourselves—this could be a monumental ride past the moon, heading straight to Pluto and beyond!
Welcome back to another technical analysis update that has proven effective! Here's a quick recap:
RECAP:
Using our MTTSA/Metric Pro indicators, the price moved above the hourly mark indicating an upward trajectory toward the daily mark, which it successfully reached. After a brief dip to the $10.70 range, it climbed back above the hourly and broke past the daily level. The price then ascended to the weekly resistance, previously unbroken in three attempts, but this time, GME surged through it, reaching a new daily high of $17.43.
CURRENT STATUS:
I believe the options chain is primed for a Gamma Squeeze, marking the beginning of a potential major move toward the monthly resistance at $20.
What is a Gamma Squeeze?
A gamma squeeze occurs when the price of a stock rises sharply as market makers who sold call options must buy more of the stock to hedge against their increasing exposure, thus driving the price even higher.
CURRENT STATUS cont.:
If GME can surpass and sustain above this level, we might witness a squeeze surpassing the one from 2021. Using the Fibonacci sequence from the top of 2021 to the recent low, our targets are: 0.236 ($17.92), 0.382 ($25.79), 0.5 ($34.63), 0.618 ($46.49), and 1.618 ($564.22). GME needs to break past the 0.236 level to progress to the 0.382. Watch for resistance at the 0.5 and 0.618 levels. Additionally, GameStop has broken out of a three-year wedge pattern, which could be significant.
DOWNSIDE SCENARIO:
Should there be a retracement, look for GME to potentially fall back to the weekly level at $14.36.
CONCLUSION:
As always, this isn't financial advice, but prepare yourselves—this could be a monumental ride past the moon, heading straight to Pluto and beyond!
Note
DFV IS BACK âś…PRICE IS GOING TO TEST THE MONTHLY, MAYBE TOMORROW. âś…
CTB INCREASING âś…
52K CONTRACTS EXPIRING ITM THIS WEEK âś…
BREAKING OUT OF 2021 WEDGE âś…
GAMMA SQUEEZE âś…
STRAP IN EVERYONE!
Note
BOOM.Note
BOOM. AGAIN.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.