All right, the video we've all been waiting for right. What is going on with gamestop? Well, oh god uh. I, this scares the living crap out of me. I do not have a position in this stock uh.

I've got a video out discussing why why i'm down 8 000, if you're interested in checking that out with snpw very interesting situation, but i don't have a position in gme, as i mentioned and uh. This is. This is some crazy stuff, but i'll do my best to explain to you what's going on here. Give you some potential entry points if you are looking to get into the stock.

I want to reiterate this very, very, very, very, very clearly. There's a huge amount of risk right now, if you get into gme, so uh just tread lightly. What is up, everybody welcome to trace trades where we get technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these. Given stocks, i'd like to promise by saying that i'm not a financial advisor nor expert so take what i say with a grain of salt, the reason i started this challenge because a couple years back was about 30 000 deep in some medical debt, and i was Very fortunate to have some close family friends and mentors that pushed me to work hard and invest my money and i'm happy to say that not only am i not financially free, but i'm doing pretty well for myself at the age of 23.

So if i can pass along any of the information resources or tools are given to me, you're the community make a couple people better off than they were before. That's all that i can ask for. Lastly, if you would not mind dropping a like on the video, it really does help support the channel and consider subscribing if you'd like to see more content like this. Now, today, we're gon na give you an update on uh or an analysis on ticker symbol, gme gamestop corporation.

This is absolutely mind-blowing. I just want you guys to realize. Gamestop is worth uh more than apple and what is tesla trading at. Is it possible that they surpass tesla? Who knows i mean i've, seen some crazy numbers being tossed around here, but gme is an anomaly in the stock market.

This has been. I i don't think ever really happened before and i'll give you a reasoning why gme has happened, but what we're going to cover today is the one-month chart, as well as the two-day one-minute chart we'll cover this macroscopically and microscopically. I've got three different indicators pulled up, which are the rsi, the relative strength index. Anything over 70 is overbought.

Anything under 30 is oversold, the 200 ema, which is the exponential moving average, and this is a price action based valuation trend line over a 200 day moving period, the 15 day vomit, which is the volume adjusted moving average, and this is a price action based valuation Trend line over a 15 day moving period, adjusted accordingly to the overall volume going into a stock. Some brokerage accounts won't offer the vomit you need to use the v-wop or the m-a they're about the same thing. We'll talk about what these all mean, give you both the bullish and bearish patterns and indicators that we're seeing here on the charts potential entry points. If you are looking to get into this, i'm doubling down again saying: there's a lot of risk involved with gamestop tread lightly.

You could make money, but you could lose a lot of money, so just be very, very cautious. Getting into this stock. I've got a couple different things: i'm going to show you on the internet as well, so let's just get right into the video, but first i want to give a quick shout out to the guys over the patreon. We are 600 members strong now, which is absolutely insane to me.

I'm so grateful for everybody here. It does mean a lot more than i could ever say they will have access to this awesome private discord as well as real-time insight to my personal training. We've got a lot of great stuff in here chatting questions, investing assistance, options, trading stock bot which we'll actually look at here today, short term plays midterm, plays long term plays back, plays colt stocks, a whole bunch of different industries in the sector. So, if you're interested in joining there's a link to the patreon in the description box down below and we've got some people here that make a lot of money.

If we look over here, the weekly earners and learners, we've got uh 80 in the past three months. Crow has turned 94 in the past month: vike 200 uh we've got flacco 13 in one day, absolutely insane numbers so, like i said, link to the patreon in the description box down below now. Why are we seeing gamestop? Go, go absolutely crazy right now, um! Well, it's it's definitely not because they give you five dollars back for uh for returning a playstation 4. i'll.

Tell you that right now, um! It's because of this reddit thread. It is called wall street bets and basically, what has happened is we have hundreds of thousands of people that are coming together on this reddit thread and discords uh that they they also have and they're saying, hey, we're all going to buy this stock and no matter What happens? We are not selling or holding and they're forcing shorts to cover extremely extremely high. So if we type in here on stockbot just take a quick look at the short interest on gme gme, i said gme. What do you do so this will pop up here momentarily, but what i'm expecting to see is that there's, an extremely high short float percentage on the stock, so it's not working, but we will show you anyways one of the threads here on reddit that uh.

That does uh verify that there is short interest in this company. So let's just look at the first couple: uh sentences here uh - this is michael brewery moment. It all starts with melvin capital, who had around 13 billion in assets from their then reporting being down over 30 percent as a friday, 22-1 and the month. Overall, we can deduce that at the time they had a 3.7 billion dollar loss, the stock price on the day before it was 43 dollars and three cents.

When the price rallied to the 70s on friday 21, they were i'm not going to say that word their pants, because they were now showing nearly a 6.5 billion loss. They called up their buddies citadel in point 72 and got 5 billion on loans, convinced their brokerage. They could get out of it and started trying to illegally manipulate the market, it didn't work and they kept buying. So we do know, there's an extreme amount of short interest: uh 13 billion dollars in assets.

That's that's a pretty high number and what we're seeing right now is the most insane short squeeze that i've, probably seen in my entire life. I think this is going to end up going down in some history books as an absolutely insane moment. I think you're very likely to see in the future the sec having some some new guidelines based on the situation. There are a lot of people out there, making a lot of money and there's some big institutions out there losing even more money watching this.

This is unprecedented times. That's all i can say i i've never seen something like this ever ever ever happen. Uh gme is doing some really crazy stuff. Honestly, i think this is gon na end up making some crazy news headlines here in the future.

But if you are looking to get into the stock, like, i said, be very very cautious, there's an extreme amount of risk involved, but we will do our best to give you an entry point. So we did see a very, very nice bounce off of the 61.8 retracement at 197 dollars. So, even though this is an anomaly in the market, it does seem to still follow some general guidelines in terms of retracement, so that is good. If you're, looking at an entry point, i do like 197.30 as long as we don't peek out above this 365 dollar top.

Ah, that's so insane guys i thought 240 or whatever it hit in the after hours. Yesterday was insane, and it's just still going still going in downtown, which is absolutely nuts, and it's not doing enough of a lot of volume which is insane to me. There's not a lot of volume. Here trading i mean it's higher than usual right, but we're trading in a in a currently 30 minute window about what does this come out to? Let me look at some numbers.

524 000 shares here at 6am. We've got 861 000 shares. So far so i mean it's it's higher than usual, but that's not ex it's it's surprising. That's that's the most that i can say so.

There's definitely a little bit of uh interesting mm happening here. The triple a market maker manipulation. I do think that is a little bit at play to be completely honest, but uh. It's the price section here is pretty crazy.

I mean the volume has been very consistent. I anticipated this being a one or two day pump and then it was done and it is still going. There are people saying and i'm not gon na, not gon na validate this whatsoever. But there are people saying that there's potential for this to hit five thousand dollars, and i don't know if that's ever going to happen, but potentially, if you got in at some people, got into this at like 14 bucks a share if you got in for 2 000 shares at 14 bucks a share and you divide 5 000 fourteen dollars.

That is a 357 x on your money. So keep that number in mind. 357. If you got in uh for 14 a share with uh, let's say two thousand dollars, so we divide two thousand by fourteen.

You would have 133 shares 133 shares um or 2 000, 2, 000 times 357 you're, looking at oh absolutely insane, 714 thousand dollars. If all you put into this was two thousand dollars, so there are a lot of people out here that are gon na make a crap ton of money on this stock. It is absolutely filthy right now, uh the risk is high, though so, if you get into this now, just keep in mind that there is risk involved so good entry point if you're looking 197 dollars and 30 cents, i do not have a position in gme. I am not going to be getting one.

I am staying away from this. That scares the living crap out of me, but if you do want to get a position, 197 30 is the place to start. I got into amc, which is doing very similar things before this insane hype happened with wall street bets. I presented that to the channel a couple days back and whether it be a stroke of luck or uh, the latter um we got into this before the hype drove it up.

A lot of people on the discord in the patreon are in it four or five dollars, so i feel like that's a more safe play. Personally, it's still moving absolutely astronomically right now up to eleven dollars at the at this given moment, pop bottomed out of that 61.8 retracement, just as i discussed in a video that i will be posting later today, um but uh gme, looking absolutely insane uh! That's how that looks right now huge gap between the 15 vomit 200 ema, a lot of buying pressure. We've got a nasty hammer candle right here from uh this long wick this bottoming tail, and i i can see it's still running. I don't recommend that you bet your house on this uh be willing to lose whatever money you put into this and also keep in mind.

This is a traders market, so you need somebody to be willing to buy your shares. If you want to sell them, no profit is realized until you click sell and it is confirmed. So you could have gotten into this at 14 bucks and if it hits 300 and nobody wants to buy your shares, just keep that. In the back of your mind, you may have a hard time uh selling for a profit uh.

I i think it's likely that you are able to, but that is a risk. There's a risk involved with a play like this, so just be extremely cautious uh. So that's how things look right now, if you see another pullbacks of 197.30, i do think that's your best opportunity to get in, of course, if we retest it push back 360, all that we can know is 61.8 was a retracement here. If we come back at previous trends, we can see that 61.8 percent was probably another close to retracement.

We actually dip below that. So we know it's going to pull back pretty hard, there's a lot of volatility here. It's moving up and down literally 100 dollars. Very very easily, so just tread cautiously there's risk involved with gme and that's how the one month chart looks so we'll come over here to the two day.

One minute take another peek guys this is just insane. Can you believe we're watching this happen? This is seriously history. Like i don't know, i i don't think you're ever gon na see this kind of thing i mean i shouldn't say ever gon na see this thing again, but this is unprecedented. This is so atypical of the market.

I don't think nothing like this has ever happened uh here in the two day, one minute chart. We do have a nice bounce off of uh about 185 dollars buyers step back in this was right around uh 6 a.m. I believe yep. 7 a.m, est 6 a.m.

Cst and a lot of different brokerage accounts started to offer their pre-market trading, so i do believe, that's why we see some buyers stepping in here so that nice bottom out is bullish. Territory does look good in that sense, um we did have some some pretty gnarly stairs stepping down, but this is going to be a volatile stock and you need to have a strong, strong, strong stomach if you decide to get into gamestop because you are likely to See some pretty hard pushes both up and down so just tread very cautiously with the price action here we don't really know uh. This is unprecedented territory, but this is bullish. It looks like a lemon smells like a lemon tastes like a lemon.

It's a freaking lemon guys. We've got a lot of buying pressure, there's a lot of volatility. A lot of volume pumping into this. If we look at the one month chart absolutely astronomical numbers.

273 000 was a typical 30 minute window. Before and now we are looking at literally 14.9 million it's insane. This is unprecedented times and i just urge you if you are gon na, get a position in gme to tread very lightly and watch very closely. So that is what i have for the video today.

Guys, if you enjoyed it, please drop a like. It really does help support the channel and consider subscribing if you like, to see more content like this and lastly, i do an affiliate link in the description box down below for weeble weeble is a great brokerage account that allows you to trade in the extended hours, Starting at 4am cst, so uh, it helps a lot to help. Get you into some plays that are time sensitive, perhaps like gme or amc risk management. Please please please, i know there's risk involved regardless.

If you do use my link, you will get four free stocks with 100 deposit and i will also receive a free stock great way to support the channel. If you're not interested, that's totally fine. I don't really care my friends. I just appreciate your support by taking the time to watch my videos, so that's what i have for you guys today.

Thank you for watching my friends and i'll see you all next time. Peace.