| Entry Price | Target | Stop Level | Risk:Reward |
|---|---|---|---|
| $153.00 | $188.00 | $140.00 | 2.69 |
Updating this on 4/18
Notes from my analysis that day — 3/13:
“GME had that huge spike a few weeks ago, has been pulling back largely since, but over the last, say, 5 trading days, this has just based. I put an entry order above the base for a straight stock play with a stop below it. My calculator is showing nearly a 3:1 up to the highs of the prior rally, so I’m happy with it. I set it as GTC, in case the base lasts a few more days, so I’ll manually monitor it”
Looking at the chart again now, in addition to the base that it had formed, there was a descending triangle and top line had been broken and retested, so I left my order out there, liking the movement. Eventually on the 14th, price pushed up enough to trigger me into the trade at $153.35.
Exit
This morning (4/18) I was going through my analysis etc. and I saw my phone flash with the ToS notification. Looking at it, I saw that my GME exit triggered at my stop price of $140. I should’ve known, and maybe in the back of my mind I did know, that it wasn’t going to push up again, not meaningfully, this soon after the last spike.
I, honestly, wouldn’t be surprised if it stayed in this range for a few weeks… but if this does break to the upside significantly, I want to capture that movement, so I need to figure something. Maybe it’s just something I end up missing? Since it’s spikes tend to be sporadic and don’t follow a pattern..
Maybe I should look at shorting this back into the range it was in before the huge spike — though it’s also at a support level that held back in December, too.
If I’m this wishy-washy about it, maybe I shouldn’t be trading it at all. Regardless, it’s not something I was expecting to look at tonight, or analyze now anyway, so we’ll revisit this when/if GME comes back up on my screener