Update on $GME 1d: a thread.
The slow trickling down is painful, but the end is near, though we are hitting at least $24.00 (!) imo. From $22 to $24 we are entering an area of very strong support.
(1) Monthly trigger support starts at ~$24
(2) Monthly trigger at ~$23.10
Bollinger bands on 1d
(1) Lower band around $23.50 right now, though we are naturally expanding the band while going down
EMA on 1d
(1) EMA20 crossed EMA50 which is bearish, but all in all a pretty weak signal
(2) EMA200 has to hold in a bull trend; EMA200 is at $24.37 right now. It doesn't mean that it can't temporarily go below EMA200 (see October/November '24), but we should bounce there
RSI on 1d
(1) RSI is at 32 right now, short of entering the oversold area
(2) Last time it was this low was 04/22/2024 (!), it didn't hit these levels afterwards
(3) RSI in oversold is a pretty good indicator for an upcoming spring for $GME imo
Smart concepts on 1d
(1) Smart concepts indicates a strong support and liquidity around $22-22.50
(2) Change of character once we pass $28+
OBV on 1d
(1) Bullish divergence on 1d for $GME (falling price, but OBV increases)
(2) Bullish divergence even more obvious on 1w
(3) Looking similar to first half of 2024
Overall, this price action is driven by algorithms in my opinion and you can observe this cyclical for $GME. @comedyorwat has done some research into this 'horns' pattern, which imo fits in this narrative of shaking out investors and driving price (painfully) lower before a pump.
Update on $GME 1d: a thread.
The slow trickling down is painful, but the end is near, though we are hitting at least $24.00 (!) imo. From $22 to $24 we are entering an area of very strong support.
(1) Monthly trigger support starts at ~$24
(2) Monthly trigger at ~$23.10 Bollinger bands on 1d
(1) Lower band around $23.50 right now, though we are naturally expanding the band while going down EMA on 1d
(1) EMA20 crossed EMA50 which is bearish, but all in all a pretty weak signal
(2) EMA200 has to hold in a bull trend; EMA200 is at $24.37 right now. It doesn't mean that it can't temporarily go below EMA200 (see October/November '24), but we should bounce there RSI on 1d
(1) RSI is at 32 right now, short of entering the oversold area
(2) Last time it was this low was 04/22/2024 (!), it didn't hit these levels afterwards
(3) RSI in oversold is a pretty good indicator for an upcoming spring for $GME imo Smart concepts on 1d
(1) Smart concepts indicates a strong support and liquidity around $22-22.50
(2) Change of character once we pass $28+ OBV on 1d
(1) Bullish divergence on 1d for $GME (falling price, but OBV increases)
(2) Bullish divergence even more obvious on 1w
(3) Looking similar to first half of 2024 Overall, this price action is driven by algorithms in my opinion and you can observe this cyclical for $GME. @comedyorwat has done some research into this 'horns' pattern, which imo fits in this narrative of shaking out investors and driving price (painfully) lower before a pump.
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