Gamestop ST Update (February 1st 2021)
Gamestop (GME) (February 1st 2021 through February 23rd 2021)
Low: $14 - $70
High Targets 1: $627 - $725
High Targets 2: $1,133 - $1,783
I'm honestly so intrigued to watch the new Gamestop and Reddit WSB r/wallstreetbets story play out. I don't know what to make of overall stock price but the price action does not look very safe to me. This will be really interesting to see if the buyers can push the price back past $500+.
If they can pull in enough bulls, price could go to the next 3.618 and 4.236 multipliers at $627 and $724. If buyers can exceed that, prices could meet a peak near $1,133 to $1,783.
If the bulls can't win, it could get very volatile and very nasty very quick. Baseline targets are anywhere from $14 to $20 and this stock could deflate very quickly towards these levels if the sellers start to win. $45 to $70 could be one of the first levels it breaks through to before finding lower lows.
I honestly think this was all a very well executed pump and dump scheme with months of planning in advance. But even if its not, its good practice to try to chart this while all the chaos and mayhem is going down.
Related idea attached below:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: $14 - $70
High Targets 1: $627 - $725
High Targets 2: $1,133 - $1,783
I'm honestly so intrigued to watch the new Gamestop and Reddit WSB r/wallstreetbets story play out. I don't know what to make of overall stock price but the price action does not look very safe to me. This will be really interesting to see if the buyers can push the price back past $500+.
If they can pull in enough bulls, price could go to the next 3.618 and 4.236 multipliers at $627 and $724. If buyers can exceed that, prices could meet a peak near $1,133 to $1,783.
If the bulls can't win, it could get very volatile and very nasty very quick. Baseline targets are anywhere from $14 to $20 and this stock could deflate very quickly towards these levels if the sellers start to win. $45 to $70 could be one of the first levels it breaks through to before finding lower lows.
I honestly think this was all a very well executed pump and dump scheme with months of planning in advance. But even if its not, its good practice to try to chart this while all the chaos and mayhem is going down.
Related idea attached below:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
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