Hey, everyone. It's that time again for the latest market update on GME. The charts are buzzing with activity, and we have some exciting developments to share.
Currently, we are trading within a substantial Bull Pennant on both the 15-minute and 1-hour charts. This indicates strong consolidation and potential for a significant move upwards. Additionally, we have a Bull Flag on the 4-hour chart, adding to the bullish sentiment.
On the daily timeframe, we've formed an impressive Cup & Handle, an Inverse Head & Shoulders, and a Bull Flag for the handle of the cup. These patterns are powerful indicators of potential upward momentum.
But that's not all! We are also in the midst of a significant Golden Cross on both the daily and weekly charts. This crossover of moving averages is a strong bullish signal, suggesting that we could be on the verge of a major uptrend.
Here’s a detailed technical breakdown:
15-minute chart: Bull Pennant
1-hour chart: Bull Pennant
4-hour chart: Bull Flag
Daily chart: Cup & Handle , Inverse Head & Shoulders , and Bull Flag
Weekly chart: Bull Flag & Golden Cross
For those who are new to these updates, it's worth noting the historical context: The last time GME had a Golden Cross on the weekly chart was back in January 2021. Following that, GME saw an incredible 12,000% run over just 183 trading days.
With the return of the Kitty and all systems go across all timeframes, the stage is set for a potentially explosive movement. Stay tuned and be ready for what promises to be an exhilarating ride.