I cannot find enough content about GME TA here/elsewhere, so I am posting this to foster discussion and pick others’ brains on the matter. If you don’t like TA, just move along please. This is somewhat of a follow-up from my prior posts on Legacy Swaps and what I think is an ongoing Wyckoff accumulation phase. I also think it’s an interesting discussion because a lot of what I tend to see has not been discussed in detail often (have you heard of T+69 x2, like the RC sex tweet style?).
[INSERT RC’s 69 TWEET HERE] <== Reddit kept filtering my post because of this. But put that image in your mind for a second please.
My Long Term Trend Lines
https://preview.redd.it/5nzuwzakgd2c1.png?width=1558&format=png&auto=webp&s=42cf5e4c5e1d06cbef8211717b738c10554203ff
https://preview.redd.it/ppdfjzxkgd2c1.png?width=1570&format=png&auto=webp&s=fea38cd7f74a4915e65a0d248433fe17ff011474
https://preview.redd.it/tmui8gnlgd2c1.png?width=1557&format=png&auto=webp&s=bc343a74433f6041a120707f126464bf04235730
Please note that these lines / measurements were made somewhat hastily, but I still think the images adequately serve for discussion purposes; just don’t maime me in the comments about it.
- There continues to be bullish looking MACD and RSI (not shown) divergence.
- The price appears to be using 2013-2015 levels of support and resistance at the moment.
- The trend made from the 2019-2020 gaps seem to be holding.
- I am impressed with their ability to lower the price given the company’s financial progress, very low debt, very high cash reserves, RC at the helm, and more…
T+69+2+T+69+2 (144 trading day) CYCLES
One of the more interesting cycles (in my opinion) is the 145-155 trading day (~7 months) cycle. This has been cyclic for several years and holds true for other stocks as well. I would like to hear from someone who could explain it, but my opinion is it may have something to do with T+69+2 + T+69+2 = 144 (plus or not plus holiday deferrals and/or strategic FTDs). I would encourage the reader to follow along with their own chart with the dates I am mentioning, but the below photo is a generalized broader overview. Anyway, maybe I’ve just been looking too long at these things…
https://preview.redd.it/qmvjfxrmgd2c1.png?width=1540&format=png&auto=webp&s=5b785d86eaf08b5cafa89d6d355173768b6c96a1
JAN 6th TIMELINE (otherwise known as the ‘price crush cycle’)
- 6/8/21 summer peak and then massive price drop. T+148-149 with the Jan 6th AH ‘news’.
- Price then declines
- 1/6/22 we had massive AH volume and price movement because of NFT marketplace news we already knew about (makes tons of sense!). T+145-150 later and we have the 8/2022 peak and Citadel loan.
- Price then declines
- 8/16/22 volume spike and further decline. Fast forward T+148-155 and we have 3/2023 earnings with massive AH volume and price movement.
- Price then declines
- 3/21/23 stellar earnings with AH movement and volume again. However, after T+145-150 …
- Price then declines
OCT 31st TIMELINE (otherwise known as the ‘parabolic cycle’)
- 6/24/21 some higher than average FTDs have occurred before this, approx 35-50 calendar and/or trading days. T+146 excitement.
- gap up!
- 1/22/21 excitement. T+148 we get a huge green bar.
- gap up!
- 8/24/21 huge green bar. T+145-150 we get the 3/2022 price action.
- gap up!
- 3/22/22 we saw massive volume and price movement for several trading days. Then T+145-150 we get the ‘parabolic >$30’ event (and interesting Ortex ‘error’ about a week before that).
- gap up!
- 10/31/22 mentioned in the bullet above. Fast forward T+150 and we have the 6/2023 AH earnings volatility.
- gap down/up!
- 6/7/23 Matt Furlong is out and earnings call cancelled. T+145-150 would be around Christmas time.
- gap?
Like Dr Jacques, I am jacked to the tits!!!
Hopefully others can expand upon these ideas. Thank you for reading!