| Author | Source |
|---|---|
| u/gherkinit |
Good Morning Superstonk!
I hope everyone is well rested and ready for what I think will prove to be a volatile day. I had some weird reddit outages yesterday in my region I’m sorry if you guys feel like I left you hanging at any point. I have no reason to believe yesterday’s price action was the result of any kind of coordinated short attack or paper-handing. While some shorting did occur, about 51% of shares traded, it was still the least amount this week by percentage .
shortvolumes.com
We will have to wait for shares outstanding to update. Having been involved in other institutional share dilutions in the past, this looks a lot like a significant number of shares are being sold at a rate that maintains a cost-average. We could also see this methodical selling yesterday based on OBV and VWAP indicators.
While this is still considered speculative due to no declaration of sale being released this pattern does indicate large institutional selling. This does not reflect retail selling patterns that we have previously see on this stock.
If you guys haven’t had a chance to Check out this weeks forward looking TA
Check out the daily livestream @Â https://www.youtube.com/c/PickleFinancial
Or listen along with our live audio feed on Discord
(save these links in case reddit goes down)
Historical Resistance/Support:
116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157, 158.5, 162.5, 163, 165.5, 172, 174, 176.5, 179, 180.5, 182, 183.5, 184.5, 186, 187.5, 190.5, 192, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 226, 232.5, 235, 242.5, 250, 255, 262.5, 275, 285, 300, 302.50, 310, 317.50, 325, 332.5, 345, 350, moon base…
Friday Happy Hour
Well GME closed up, only $22 below max pain. I’m still operating under the assumption that GME has sold it’s ATM offering on to the market I think the sale was finished around 11:45 today which appears to be confirmed by OBV and VWAP. Still we will have to wait T+2 for confirmation. I will be assuming the sale as I readjust the TA analysis this weekend to show the fundamental change. Thank you all again for the support, today was definitely crazy… I will see you all bright and early Monday morning at 9am. Have a great weekend apes!
Edit 8 2:57
Stream donated 3k for me to get a perm….and sideways chop …FML
Edit 7 1:49
Still consolidating drew you a fresh trend line
Edit 6 12:56
Ok if we can pull above 230 we will be nicely out of that downward hedging pressure. Welcome back to VWAP
Edit 5 12:17
Slow bounce off 206 might be on an uptrend the put interest is very high today trying to drive the price down with delta hedging. Ideally we can stay above 210 if we hit 200 just remember buy the dip and hodl
Edit 4 11:13
3300 puts open at 220 so expect this dip to be decent as those move ITM
Edit 3 10:45
Failed the test of VWAP back to 220-225
Edit 2 10:33
Looking for a breakout to the upside on this small intraday wedge. Possibly another test of 242.50
Edit 1
Nice volume so far at 2.8 million traded. Looks like we failed a test of 235 but the first 15 min action looks pretty bullish let’s see if we can squeak back some of those losses from yesterday.
Pre-Market Analysis
Edit 1: Possible low @ 200 a return to our previous patter requires we cross 250 today.
While the amount of arbitrage I expected was a bit lackluster we are still up in the pre-market currently 6/4% trading @ 234.50. We have traded 225k volume so far. I think we’ll have a pretty busy day.
I also must admit if the share sale is correct there is no way TA of any kind could have predicted this movement. Hence the failure of every major TA indicator on this sub yesterday some came close but close is still wrong. I currently Expect us to bounce back into our long-term trend if we do not I will have to do some re-evaluation over the weekend. Even if we do this deviation will have to be factored in but for now.
** Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze.*
*My YouTube channel is “monetized” if that is something you are uncomfortable with, I understand, while I wouldn’t say I profit greatly from the views, I do suggest you use ad-block when viewing it if you feel so compelled. My intention is simply benefit this community. For those that find value in and feel compelled to reward my work, I thank you. For those that do not I encourage you to enjoy the content. As always this information is intended to be free to everyone.
*This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.
 No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* Learn more