I found something good in the technical analysis of GME! You need to have a little bit of patience we are really near (It's been 84 years, I know, but all technichals match right now, except volume, thanks me later)
GameStop is near to touch SMA200 in daily chart. Price closed at 24.80 and daily SMA200 is at 24.38.
Why I'm hyped?
Last time that GME touched SMA200 in past, pushed the price from $14.93 to $64.83!
Enlarging that images to see that better:
First time that was touched was 24 august 2020 (opening price: $1.27/share)
Second time was 7 may 2024 (opening price $15.85/share)
- 24 august 2020 before the sneeze (started in january) look at the price!
- 7 may 2024:
- Now:
Also, if you trace Fibonacci from 5 august 2024 Low ($18.73) to 7 january high ($34.40), as you can see, we are into the fibonacci ritracement number (for example if you divide 3 for 2 you obtain 1.5 that's an approximation of 1.618...if you continue that sequence you obtain that measure more precise 144:89=1,617977528089888 and, if you reverse the number you obtain the retracement 2:3= 0,6666666666666667 with a big error, or 89:144=0,6180555555555556 that is more precise and similar to 0.618 ratio)
TLDR: We rise if we touch 24.38 first