The GameStop (GME) story continues to captivate both retail traders and Wall Street veterans alike. 🏆 While the epic showdown between retail investors and hedge funds last year marked a significant chapter, recent developments indicate that this saga is far from over. Let's take a closer look at the latest twists and turns in the GameStop narrative.
A Rocky Start to the Week 📉
On Monday, GameStop opened in a monthly supply zone—a critical price area where selling pressure is typically high. As anticipated, the stock faced significant resistance and dropped 34% by the end of the trading day. This movement is a stark reminder of the volatility that continues to characterize GME.
The Technical Perspective 📊
For those following the charts, it's crucial to note that buying GameStop above $12.75 means paying a premium for a stock currently in a monthly supply zone. The $12.75 mark represents a discount price for potential buyers, suggesting a more favorable entry point based on technical analysis. Above this level, investors might be taking on additional risk by purchasing at higher prices within a supply zone where sellers dominate.
A Rocky Start to the Week 📉
On Monday, GameStop opened in a monthly supply zone—a critical price area where selling pressure is typically high. As anticipated, the stock faced significant resistance and dropped 34% by the end of the trading day. This movement is a stark reminder of the volatility that continues to characterize GME.
The Technical Perspective 📊
For those following the charts, it's crucial to note that buying GameStop above $12.75 means paying a premium for a stock currently in a monthly supply zone. The $12.75 mark represents a discount price for potential buyers, suggesting a more favorable entry point based on technical analysis. Above this level, investors might be taking on additional risk by purchasing at higher prices within a supply zone where sellers dominate.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.