I am bullish on GME for the long term. I am Bearish for the short term. I believe Going into May and May will not be nice to most stocks. I believe GME Does have cycles, and PRE-SPLIT GME will Break $250.
That being said, GME looks to be headed to break $140 on the down side. RSI is in a downtrend on the hourly. Before breaking $140 we should see a close under 144-45. Both might happen today, April 08, 2022.
Please note my 2 fib areas. On a short timeframe I am looking at a bounce or confirmation of the 161 (@$132). Mid term timeframe I can see another dip to $112 (the 382). Please remember when messing with fib levels, the fib bros love the .382, .5, and .618 for active trading. Then look to the 1.61 for rejection or conformations.
Around $125 is a gap to fill. Once this gap fills I am will be looking for legs up. First, will be closing under 144, 140, then 132. those are my support/ resistance level.
I will not go full bull until either the gap is filled, or we close above 163.
That being said, GME looks to be headed to break $140 on the down side. RSI is in a downtrend on the hourly. Before breaking $140 we should see a close under 144-45. Both might happen today, April 08, 2022.
Please note my 2 fib areas. On a short timeframe I am looking at a bounce or confirmation of the 161 (@$132). Mid term timeframe I can see another dip to $112 (the 382). Please remember when messing with fib levels, the fib bros love the .382, .5, and .618 for active trading. Then look to the 1.61 for rejection or conformations.
Around $125 is a gap to fill. Once this gap fills I am will be looking for legs up. First, will be closing under 144, 140, then 132. those are my support/ resistance level.
I will not go full bull until either the gap is filled, or we close above 163.
Comment:
What an exciting last 15 minutes of the trading day! Near the major support of 145! looking forward to premarket and market Monday! I am expecting more downtrend next week.
Comment:
GME looking at 140 and 143 today, which one will break first?
Comment:
Broke a little to the upside today, after trading down in the morning. I would still be weary not clearing $150. It looks like the past couple days have been red in the morning and an upswing in the afternoon, but still holding a daily down trend of lower lows and lower highs. Possibly some psychology at work here with price. If people play patterns they will look to buy calls at the low point. Well how long does the market hold that pattern before a little rug pull?
I'm still looking at downward movement. Confirmation of up still lies at 163, confirmation of down still is 143-140.
I'm still looking at downward movement. Confirmation of up still lies at 163, confirmation of down still is 143-140.
