$GME Update + In Depth Technical Analysis

As you can see, GME has yet again shown another day of upward momentum similarly to January earlier this year. It has reached its Fibonacci levels how I anticipated in previous posts. We saw resistance yesterday at the 38% retracement level around $215 near the close, but further steam gathered in post and premarket trading as AMC began to take off as well, sparking the "return of the squeeze" from WallStreetBets apes. AMC has nearly retraced from its highs nearly 100%, and GME has shown very similar price action and breakout patterns but seemingly after AMC this time. Price jump in the morning pushing it even higher right through fibonacci resistance level, now approaching 50% retracement which is ($265). I do see this going to that level, and option flow volume tells the same story. The price targets are respective to fibonacci levels, and important levels to look watch in the coming days and into next week.

PT1- $211 > 38%
PT2 - $265 > 50%
PT3 - $315 > 61%
PT4 - $387 > 78%
PT5- $485 > 100

I personally believe this easily goes to $265 short term, and then depending on how it reacts at that level with price action and volume, judge it and update through a post accordingly. I think AMC Retracement levels are giving people confidence and even causing some speculative buying because of how AMC has traded in respect to fibonacci levels.

Options Flow Summary & Heatmap
Top Contracts in Premiums
5/28 $250 Calls - 4.35mil
5/28 $200 Calls - 3.78mil
7/16 $800 Calls - 1.98mil

Total Call Premium $ = 27mil
Total Put Premium $ = 4.43mil

- 0.72 Call/Put Ratio

All to those factors to me, are very bullish.

RSI Convergence popped nicely, and still has room to run, not being in overbought territory, as well as MACD showing a strong reversal with a value of 10.78, meaning this can most definitely move higher as previous 2 waves ran near a 50.00 value before a pullback.

Hope you enjoyed this analysis and if you have any other questions, anything else you would like to see, and if you would like more detailed analysis like this let me know. Follow for more opinions, appreciate the feedback, GLTA. Twitter linked below.