GME stock is on the radar of many traders. Its what everyone has been talking about. It is an especially interesting stock because of it's monstrous rally up from around $30 to over $300 in just a matter of days. I myself, didn't know this stock existed until a few days ago...by then it was too late to enter. But anyhow, I thought this stock is gonna make history...so that's why I'm doing an analysis on it.
I think it's severely overbought, and we shouldn't see much more of an increase in price. The candle on thursday confirms this because it went down quite a bit that day. Then it partially recovered the next day (friday). Now it's sunday...and tommorow, the market opens. So I bet that it's either gonna move up a little more for a few days or stay flat or most likely... move down. But the takeaway here is that I sense GME is overbought or close to overbought. So I drew the pathway the price will most likely take in the chart above for GME.
So basically, the picture says a thousand words...and we should expect a dip in GME's price before continuing upwards or staying flat. Enjoy!
I think it's severely overbought, and we shouldn't see much more of an increase in price. The candle on thursday confirms this because it went down quite a bit that day. Then it partially recovered the next day (friday). Now it's sunday...and tommorow, the market opens. So I bet that it's either gonna move up a little more for a few days or stay flat or most likely... move down. But the takeaway here is that I sense GME is overbought or close to overbought. So I drew the pathway the price will most likely take in the chart above for GME.
So basically, the picture says a thousand words...and we should expect a dip in GME's price before continuing upwards or staying flat. Enjoy!