$GME - What's next?
Hi y'all,
Disclaimer: I'm not a financial advisor and this is not financial advice.
GME finally broke out of the symmetric wedge. If you don't like technical analysis for GME, stop reading now.
After the Bullish Wedge:
You'll notice that there's an upwards channel that's formed with GME and we may or may be not be trading inside it. I wouldn't recommend trying to day trade this pattern because it might not be a pattern/channel at all.
You'll also notice that despite looks, we've actually bounced off some resistance at ~$187 ish. We'll need to break that consistently for at least 1 day to consider that we've truly broken this resistance.
Additionally, if we go significantly aboe $187, there's additional super strong resistance at ~$247. If this were to be broken, then start dreaming because we might see crazy stuff happening like crazy Citadelic pressure downwards or unknown upwards pressure.
The Moass:
1) May 7 - May 28 there is extremely minimal open interest on GME options. This could indicate a pressure free period for GME where a MOASS could occur. It might also not. This period is an anomaly. Not only is there an almost inexistent amount of Options Activity, there's also very restricted strikes at $390 max instead of $800 or $950 calls and $5 to $10 for puts minimum instead of the previous $0.50 and $1 dollar put strikes.
So yeah it's a special weird period and could be interesting. Don't get your hopes up. Expect nothing.
2) June 9 and June 28. On June 9 we learn who we voted in on GME's board. On June 28'th we also find out if GME does indeed join the Russel 1000 or not. It's an ETF several times larger than the Russel 2000 that GME is currently part of. It joining it is the equivalent of TSLA joining the S&P500 last year.
Not my problem if you don't like dates. These dates are backed by facts, it's best to have them in mind but nothing more. Manage your own expectations.
Other Info:
GME is paying off their remaining senior debt notes due for 2023. They are paying them off on the 30'th of April. This will allow them to pay dividends or do stock splits and other things.
Keep in mind this time last year, GME's Market Cap was $612 mln. Today they just raised $550 ish million by just issues only 3.5 million shares lmao. (The total float was 70.1 million).
Currently float is 73.6 million. Of that, only 26-30 million "are" publicly tradeable and with the amount of people trading GME, we can be sure we've bought all of the float multiple times over.
Any remaining shorts or hidden shorts in the Failures to Deliver are not going to like what's happening. It's very likely that they will get their heads bitten off and still come back for more.
Disclaimer: I'm not a financial advisor and this is not financial advice.
GME finally broke out of the symmetric wedge. If you don't like technical analysis for GME, stop reading now.
After the Bullish Wedge:
You'll notice that there's an upwards channel that's formed with GME and we may or may be not be trading inside it. I wouldn't recommend trying to day trade this pattern because it might not be a pattern/channel at all.
You'll also notice that despite looks, we've actually bounced off some resistance at ~$187 ish. We'll need to break that consistently for at least 1 day to consider that we've truly broken this resistance.
Additionally, if we go significantly aboe $187, there's additional super strong resistance at ~$247. If this were to be broken, then start dreaming because we might see crazy stuff happening like crazy Citadelic pressure downwards or unknown upwards pressure.
The Moass:
1) May 7 - May 28 there is extremely minimal open interest on GME options. This could indicate a pressure free period for GME where a MOASS could occur. It might also not. This period is an anomaly. Not only is there an almost inexistent amount of Options Activity, there's also very restricted strikes at $390 max instead of $800 or $950 calls and $5 to $10 for puts minimum instead of the previous $0.50 and $1 dollar put strikes.
So yeah it's a special weird period and could be interesting. Don't get your hopes up. Expect nothing.
2) June 9 and June 28. On June 9 we learn who we voted in on GME's board. On June 28'th we also find out if GME does indeed join the Russel 1000 or not. It's an ETF several times larger than the Russel 2000 that GME is currently part of. It joining it is the equivalent of TSLA joining the S&P500 last year.
Not my problem if you don't like dates. These dates are backed by facts, it's best to have them in mind but nothing more. Manage your own expectations.
Other Info:
GME is paying off their remaining senior debt notes due for 2023. They are paying them off on the 30'th of April. This will allow them to pay dividends or do stock splits and other things.
Keep in mind this time last year, GME's Market Cap was $612 mln. Today they just raised $550 ish million by just issues only 3.5 million shares lmao. (The total float was 70.1 million).
Currently float is 73.6 million. Of that, only 26-30 million "are" publicly tradeable and with the amount of people trading GME, we can be sure we've bought all of the float multiple times over.
Any remaining shorts or hidden shorts in the Failures to Deliver are not going to like what's happening. It's very likely that they will get their heads bitten off and still come back for more.
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