GameStop
做空

GME -- Looking to fill the Gap Below, maybe reverse.

Authors Note:
While specific exchanges have close or paused trading on stocks, it does need to be noted.
However, the following idea is not taking this into consideration; but purely looking at the the chart itself.
Outside factors are real and need to be addressed, but I do not believe that is my job. I'm just sharing my thoughts
were we go from here. This is pure opinion, political, or personal outlooks are being ignored.
Happy Trading.

So looking at GME it has had an amazing run, and has been going sideways for a little over a day, with some up and down
movements within this larger movement. I believe that we should see the gap left open between 147- 266 be filled over the coming days.
Which will put pressure down to the 50 line.

Reasons:
1) Decreasing volume over the last 3 trading days. Over the last few days the trading volume is dropping. Even with some exchanges disabling functionality.
As such this is a clue or puzzle piece I am looking at.
2) MACD closing, the MACD is coming together. On this 4 hour chart it has yet to meet, while it has already done so on the 1hour and smaller time frames.
The MACD is lagging, and that needs to be considered. In general the larger time frames are more dominate; I think it is safer to consider the 4 hour or daily chart on
this one over the 1 hour.
3) RSI pointing down. The RSI is reaching for the 50 line on the 4 hour which may signal a bearish trend. Especially in the context of low volume. There are less buyers now then there
were 3 days ago. I think it is fair to say that this might continue, especially with new traders or lack of people buying. Similarly the RSI on the Daily is still over extended above the 70 line.
As with MACD, the larger time frame will be a safer fall back vs the shorter ones.

As such I think its safer to be on the short side, if not today but something to watch for in the next week. This is setting up to be a trap door especially with emotions running high.

Targets:
T1: 200 -- Large Even Psychological Barrier
T2: 145-150 -- End of the window opened from a few days ago.
T3: 100 -- Psychological barrier.
T4: 45-60 -- Range that was being traded in between Jan 22 - Jan 25th.
Stop Loss:
S1: 355 -- Might run higher, best to get out quick.


Best of Luck,
--d0x
Candlestick AnalysisSupply and DemandSupport and Resistance

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