From the view we see that GME is following the perfect Elliott Wave/Fibonacci levels.
Once the 21 Moving Avg crosses the 50 Moving Avg we'll see the 2 fifth waves form which will shoot up the price to around $540.
This will:
1. Go past the previous high of $475 (This is also going to act as resistance for now.
2. Once people see this they will help GME stock shoot up as it's a clear sign of a bullish market.
3. Possibly go above and beyond expectations and go to $1170-$1200 levels (indicated by the fib levels on the chart)
Paired with this TA we can also assume that since Robinhood shut down GME trades for a brief period, letting the price drop significantly Wallstreet has had enough time to buy at the bottom.
So here's the plan:
1. Find a good entry point, buying market price isn't the worst option. (As we've already hit strong support at $250)
2. Hold till stocks reach $560-$580, lock in some profit (30% is quite safe.)
3. After this initial breakthrough we'll see a ABC wave correction as this will be the 5th Wave in the sequence that started on the 28th.
4. New price would be in the $307-$255 range. (BUY!)
5. Once everyone has loaded up on gas for the moon we sit back, relax and profit.
Locking in some profit at $750-$800 will be beneficial as the stock will face massive resistance at that price. (Is one share of GME really worth $800?)
If the people say it is, we can safely trade our way up to $910, $1200.
Disclaimer:
I am not a financial advisor, do your own research. (Looking at charts isn't your own research)
Once the 21 Moving Avg crosses the 50 Moving Avg we'll see the 2 fifth waves form which will shoot up the price to around $540.
This will:
1. Go past the previous high of $475 (This is also going to act as resistance for now.
2. Once people see this they will help GME stock shoot up as it's a clear sign of a bullish market.
3. Possibly go above and beyond expectations and go to $1170-$1200 levels (indicated by the fib levels on the chart)
Paired with this TA we can also assume that since Robinhood shut down GME trades for a brief period, letting the price drop significantly Wallstreet has had enough time to buy at the bottom.
So here's the plan:
1. Find a good entry point, buying market price isn't the worst option. (As we've already hit strong support at $250)
2. Hold till stocks reach $560-$580, lock in some profit (30% is quite safe.)
3. After this initial breakthrough we'll see a ABC wave correction as this will be the 5th Wave in the sequence that started on the 28th.
4. New price would be in the $307-$255 range. (BUY!)
5. Once everyone has loaded up on gas for the moon we sit back, relax and profit.
Locking in some profit at $750-$800 will be beneficial as the stock will face massive resistance at that price. (Is one share of GME really worth $800?)
If the people say it is, we can safely trade our way up to $910, $1200.
Disclaimer:
I am not a financial advisor, do your own research. (Looking at charts isn't your own research)