GME - Ascending Triangle --- and my thoughts on this stock

GME ascending triangle

Price target is resistance at 350

this is my short term forecast. In the coming months... GME could reach a price in excess of $1000 per share.. which I think is quite possible. From a technical analysis perspective. My reasoning is below

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I have not found a good theory as to why this stock price is still in the triple digits -- almost a year after the short squeeze?

It would have made sense for this thing to go back down to 40 bucks (which it did) , but look at FEB 24... it simply does not want to go back down there.

It is so detached from the fundamentals of the company,



THEORY":

this may show there is a large market participant who has cornered the market on GME shares... and wants to distribute them at a higher price. Just look at the volume.

But in all likelihood, whoever has accumulated these shares probably wants to squeeze more shorts out of their positions.

Short interest stands at 12.45% as of my writing this. It is not nearly the SI that existed before January, but it is not insignificant. Especially given the now-higher market cap..


Who could it be? Reddit? probably not.. too unorganized and not enough capital to pull something like this off. This requires a ghastly amount of money to operate.....

I think... a hedgefund. And the chart is showing their intentions.


Let me know your thoughts,

CR