| Author | Source |
|---|---|
| u/gherkinit |
Good Morning Superstonk!
Now officially a pickle, I’m ready to scribble even more furiously with my crayons than ever before.
I wanted to seriously take a moment and thank all of you apes for all your support knowing you are watching and interested in learning has been what has motivated me to do this every day for the last few months. Thank you all so much for the kind words, encouragement, and motivation.
I’m pretty stoked on this week we had a very nice period of consolidation and I’m think that today or tomorrow we should begin to see some upside.
If you guys haven’t had a chance to Check out this weeks forward looking TA
Join us in the Daily Livestream https://www.youtube.com/c/PickleFinancial
Or listen along with our live audio feed on Discord
(save these links in case reddit goes down)
(this post will read from top to bottom)
Historical Resistance/Support:
116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157 (previous ATM offering), 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, 225.20 (new ATM offering) 226, 232.5, 235, 242.5, 250, 255, 262.5, 275, 280, 285, 300, 302.50, 310, 317.50, 325, 332.5, 340, 350, 400, 483, moon base…
Closing Bell
I suspect the SHFs are holding the price down throughout the day then allowing it to climb/covering a small amount of daily shorts towards power hour in order to spike the IV for the next morning. Possibly in order to make gamma ramps more expensive to set up. Either way rough day but we had that nice bounce a couple times down @ 194 closing in on 200 in aftermarket. Thank you all for tuning in and see ya tomorrow
Edit 7 3:23
Moving up to another test at VWAP hopefully some volume before close to get us back above 200 would be fantastic.
Edit 6 1:57
Nice bounce off that long term trend. Some Iran uranium stuff has the spy getting all excited. Easing that downward pressure we could have a nice power hour.
Edit 5 12:52
Still down and sideways trading on top of that long term resistance now at 194
Edit 4 10:45
GME and SPY running real close but our lack of liquidity is preventing bigger dips. Apes hodl.
Edit 3
Double bottom might see a bounce the volume is still sub 1m so maybe just back to 200~
Edit 2
looking at 194 on that lower trend line
Edit 1
SPY tanking overall market dragging us down on low volume
Pre-Market Analysis
We got another awesome announcement this morning about GameStop’s new 530,000 sq.ft. facility in Reno, Nevada, so I expect we will drop /s. Thankfully it looks like they are gonna start deploying some of that capital before inflation sets in which will drive value in the long-term. Currently sitting on about 450k shares to borrow and low pre-market volume @ 18k.
While I fully expect us to bounce on the low-trend of the cup & handle there is a possibility that we trade down today and bounce off the long-term trend indicated by the ascending triangle on this weeks formation
Lower cup & handle trend bounce expected (red dotted line) possible bounce off the long-term trend (Lower solid yellow line) Cup & Handle on 1D Timescale
A bounce today would give us a very nice bullish crossover on the 1D MACD
MACD 1D Timescale
Lastly CV_VWAP not currently signaling arbitrage opportunities but there is a chance we could see something closer to market open. I will continue to monitor this.
Disclaimer
** 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