I see GME on the 15-minute chart as being setup for an opportunistic speculative dip buy.
Details and targets are on the chart. The plan is to get about 5% out of an anticipated
rebound off the near-term pivot low. My analysis is the GME will revert to the mean being
the high volume area of the volume profile which is 4% upside with the POC line before
that where trading will ever be buyer dominate for a continuation or seller dominate for
a bounce down. If any shorts bought in the downtrend they will either hold through the
recovery or buy to cover to minimize losses. If the latter, the early beginnings of a short
squeeze could be a foundation of a move higher.
Details and targets are on the chart. The plan is to get about 5% out of an anticipated
rebound off the near-term pivot low. My analysis is the GME will revert to the mean being
the high volume area of the volume profile which is 4% upside with the POC line before
that where trading will ever be buyer dominate for a continuation or seller dominate for
a bounce down. If any shorts bought in the downtrend they will either hold through the
recovery or buy to cover to minimize losses. If the latter, the early beginnings of a short
squeeze could be a foundation of a move higher.
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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.