GME moment of truth -- will the Algo break the trendline??
GME algo is in full control, as you can see from the two upward blue channels that follow with a sharp drop.
The good news is that the upward orange trendline has held on 3 separate occasions now -- Feb '21, May '22, and Sep '22.
This signifies that while the algo remains mostly in control, the lows aren't as low as they could be because DRS diamond hands are holding the line.
The moment of truth will come within the next couple weeks, as the algo goes for the "mega drop", similar to what we saw in January when we went from $40 to $20.
If we're lucky, we will mimic the movement of April '20 before the sneeze, where the price temporarily dropped below the trendline and back into it, igniting the squeeze in just a few months.
So I'd expect a quick drop below the channel to the $15-20 range and back into it shortly thereafter.
If this happens, MOASS is most definitely imminent within the next 3 months.
However, if it doesn't bounce back into the channel, MOASS would be delayed and a new trend would most likely take shape over the next 6 months or so before we can make any real judgement. At that point, we'd be totally dependent on DRS numbers sucking out liquidity before we saw anything really reminiscent of MOASS.
The good news is that the upward orange trendline has held on 3 separate occasions now -- Feb '21, May '22, and Sep '22.
This signifies that while the algo remains mostly in control, the lows aren't as low as they could be because DRS diamond hands are holding the line.
The moment of truth will come within the next couple weeks, as the algo goes for the "mega drop", similar to what we saw in January when we went from $40 to $20.
If we're lucky, we will mimic the movement of April '20 before the sneeze, where the price temporarily dropped below the trendline and back into it, igniting the squeeze in just a few months.
So I'd expect a quick drop below the channel to the $15-20 range and back into it shortly thereafter.
If this happens, MOASS is most definitely imminent within the next 3 months.
However, if it doesn't bounce back into the channel, MOASS would be delayed and a new trend would most likely take shape over the next 6 months or so before we can make any real judgement. At that point, we'd be totally dependent on DRS numbers sucking out liquidity before we saw anything really reminiscent of MOASS.
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