GME had a good run today and is up nicely in the AH, but the Moon Cycle and chart dynamics are telling me "NOT YET".
It still may break out to the upside as this stock trades wildly at times but the wave pattern indicates a near-term down turn is more likely IMO. Divergence Indicator (DI)) is over-extended also indicating a potential near term drop in price. If the price drops I don't know how far it may go, but high volume support exist at many levels. I'll guess 115.XX. Holding Pattern for now.
GME Shareholder Meeting on June 9th will coincide nicely with the start of next moon cycle which has been typically bullish for this stock.
You're the first person I see chart moons into this graph and you're not even going to mention that tomorrow the 26th is an actual crazy super duper blood moon, lunar eclipse event thing that's happening? Shame...
Akksujean
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@berniesands, Thanks for mentioning the moon cycles which are full moons to new moons and also the "crazy" eclipse for this moon cycle. I do consider astro influences in charts/trades. Taking "risks" or making trades near or on an eclipse is generally a NO, for if the trade or risky idea goes against you, you will be dealing with the repercussions until at least the next lunar eclipse (about 6 months).
With GME breaking out to the upside this morning the FOMO will hard to resist, but hey, they like the stock. I still think with the Moon Cycle, eclipse, and chart action GME turns down again before any short squeeze or MOASS. The other wrinkle however are the new DTCC rules that have been coming into effect recently and how these rules will be enforced and ultimately affect the markets.