[WSB] How to trade the GameStop Short Squeeze!
Updated
r/wallstreetbets recently picked up the GameStop Stock (GME). Why? Because we basically have free money sitting here.
GameStop struggled with keeping up with the growing digital gaming market and the price plummeted.
With a strong focus on E-commerce, a strong brand with over 55 million PowerUp members and a solid team (Source: r/wallstreetbets "GME FULL STORY),
we will most likely see further growth in the company in terms of revenue and stock price.
I made this chart to verify important levels and an in depth trading-plan to reduce the risk as much as possible.
Everything relevant is on the chart. The Cup & Handle Pattern is one of the easiest patterns to trade and extremly powerfull to extend
a strong uptrend - which is highlighted by the Ascending Parallel Channel.
Please make sure to place a Stop-Loss order and place your buy after the confirmation with a Breakout-Candle.
Let me know if there are any questions and feel free to discuss in the comment section.
cheers
GameStop struggled with keeping up with the growing digital gaming market and the price plummeted.
With a strong focus on E-commerce, a strong brand with over 55 million PowerUp members and a solid team (Source: r/wallstreetbets "GME FULL STORY),
we will most likely see further growth in the company in terms of revenue and stock price.
I made this chart to verify important levels and an in depth trading-plan to reduce the risk as much as possible.
Everything relevant is on the chart. The Cup & Handle Pattern is one of the easiest patterns to trade and extremly powerfull to extend
a strong uptrend - which is highlighted by the Ascending Parallel Channel.
Please make sure to place a Stop-Loss order and place your buy after the confirmation with a Breakout-Candle.
Let me know if there are any questions and feel free to discuss in the comment section.
cheers
Note
I will update this idea when my trade is activeTrade active
Note
Doing well!Trade closed: target reached
I took my final profit at ~$150Note
Elon Musk tweeted about GameStop and we might see some crazy movements througout this week! Be careful!Note
We're officially back on the menu
Strategies, Insights & Education: t.me/KOLAcademy
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