In my previous post regarding the long opportunity on GME stock, I called a long signal after a break out of a downtrend line. However, price had dropped down to the demand zone, giving another long opportunity.
To take advantage of this long opportunity, you can buy at the current market price, while the exit will be at $20.30 and the targets can be at $35.70, $47.90 and the final target at $64.70.
Confluences for the long idea are as follows:
1. Weekly break of structure
2. Valid Inducement
3. Orderflow
4. Price within the discount
5. Price respecting bullish trendline
6. Hammer candlestick confirmation
7. Price at a support level
Disclaimer: This is not a financial advice. The outcome maybe different from the projection. Don't take the signal if you're not willing to accept the risk.
To take advantage of this long opportunity, you can buy at the current market price, while the exit will be at $20.30 and the targets can be at $35.70, $47.90 and the final target at $64.70.
Confluences for the long idea are as follows:
1. Weekly break of structure
2. Valid Inducement
3. Orderflow
4. Price within the discount
5. Price respecting bullish trendline
6. Hammer candlestick confirmation
7. Price at a support level
Disclaimer: This is not a financial advice. The outcome maybe different from the projection. Don't take the signal if you're not willing to accept the risk.
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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.