GME is slowly approaching the long term trend line. As you can see, there is a significant bounce every time it touches this line. Currently there are mixed signals on whether the stock is bullish or bearish. Volume is low and there has been a slightly downward/sideways trade for a couple of weeks. Retracements bounce back up fairly easily and continue to trade sideways.
Based off of the history of this trend line, there may be a correction upward with a volume spike in the coming trading days. If GME breaks this long term trend, I'm not completely sure how it will play out. Please let me know your thoughts in the comments. Thanks for reading!
(This is not financial advice)
Based off of the history of this trend line, there may be a correction upward with a volume spike in the coming trading days. If GME breaks this long term trend, I'm not completely sure how it will play out. Please let me know your thoughts in the comments. Thanks for reading!
(This is not financial advice)