GME: Continues To Hold the Bullish 0.886 Position and 200-SMA

1 feb

This is a little bit of an update and reminder that GME is still holding above the 0.886 retrace and the 200-month Simple Moving Average with Hidden Bullish Divergence within a Falling Wedge. We've held this level for months and it still appears that it can Bullishly Breakout of the wedge at any time, which should lead to some extreme upside between $60, all the way up to 134.77. But given how long it's been I'd say on a shorter term timeframe basis, just to be safe, $25 would be the first profit taking target.

It is also worth noting that on the monthly GME confirmed a Bullish Morning Star after the test of the 200-Month Moving Average.

13 mag

Trade chiuso manualmente

Taking some profits for now will enter back in around $18 - $22 or $15 depending on how it looks.

17 mag

Trade attivo

I will start edging back into a Bullish position on this mostly Bull call spreads in the form of LEAPS since the OTM calls are worth so much premium now one could buy closer to the money calls for cheap thanks to the credit provided.