Browse Stacks: Patterns: Fibonacci: slopechart_GME.jpg

slopechart_GME.jpg

Gamestop on the move. It reminds me of the Dogecoin chart so I applied similar insanity. $256.82 and $325.94 above. $208.28 is the hurdle for the moment. $413.98 if Reddit's hopes and dreams are to come to fruition. 

Edit: Looks like it is trading around $216 overnight in other markets.  

Thoughts: 300k people were convinced that there is more short squeeze at play here, and joined a Reddit forum sharing that hypothesis. Assume that is all nonsense... they could just corner it and have about the same impact. Nuts. 

Edit edit: Robinhood showing $226.50 at 45 minutes prior to U.S. open.

Image added via SlopeCharts
slopechart_GME.jpg

Comments

Joe JusticeJoe Justice
The problem is that the market maker in the put options for GME keeps put pricing high because they know the flock of unsophisticated investors playing it and AMC will pay whatever price is asked to buy put or call options. With an "initial" downside target of $170 already "pre-ordained" for GME by the market itself, if you can nail the Ty Ming on the top you should be able to buy a sub $20 lotto ticket put at a strike above $170 that will go 10X. 5/26/21
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