Hi everyone,
Seems we start with a very big bull candle after days off selling pressure.
Depending if the bulls can overtake the next resistances and build up support zones we could see higher process, maybe even extreme high prices when the gap is filled.
This won't be considered a short squeeze since most short positions are already covered - this is the effect of having a stock being oversold and is now seeking previous price areas.
I do remain with the scenario that even if we see high prices this would be followed by a downward pull back back to the fundamental price.
Currently price is too artificial, too many traders/investors who "like the stock" without long term vision.
Long term: GME could be revived and do a great comeback in the retail sector but this can take a while
The GME management has some challenges to overcome - time will tell if they can pull it off as a company!
Kind regards,
Noel
Seems we start with a very big bull candle after days off selling pressure.
Depending if the bulls can overtake the next resistances and build up support zones we could see higher process, maybe even extreme high prices when the gap is filled.
This won't be considered a short squeeze since most short positions are already covered - this is the effect of having a stock being oversold and is now seeking previous price areas.
I do remain with the scenario that even if we see high prices this would be followed by a downward pull back back to the fundamental price.
Currently price is too artificial, too many traders/investors who "like the stock" without long term vision.
Long term: GME could be revived and do a great comeback in the retail sector but this can take a while
The GME management has some challenges to overcome - time will tell if they can pull it off as a company!
Kind regards,
Noel
