GME Bear Flag

24 ביולי

I hate to do it, but I have to post a bearish idea for GME. It has been holding the $23.50 area pretty well, but has a bear flag after a pretty significant drop from up around $30. Not only is this a bearish chart in my mind, but GME struggles heavily during broader market down turns. There are times where it inverses the market and it's a dangerous short. However, as long as there is no additional squeeze hype or news that happens randomly, GME should fall quite a bit with ES and NQ.

CHWY has also broken below a major uptrend it started back with all of the DFV hype. These things fall hard when the show is over. It's possible we haven't seen the last of GME this year though, so not my top short. Will use small size for now.