Trading Gamestop $GME With Integrated Risk Controls

March 21, 2023, 18:50 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Gamestop (NYSE: GME) report below can help you, but we have more details too. The trading plans for GME, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for GME

• Buy GME slightly over 23.64 target 31.57 stop loss @ 23.57 Details

The technical summary data tells us to buy GME near 23.64 with an upside target of 31.57. This data also tells us to set a stop loss @ 23.57 to protect against excessive loss in case the stock begins to move against the trade. 23.64 is the first level of support below 26.3 , and by rule, any test of support is a buy signal. In this case, support 23.64 is being tested, a buy signal would exist.

• Short GME slightly under 31.57, target 23.64, stop loss @ 31.66 Details

The technical summary data is suggesting a short of GME as it gets near 31.57 with a downside target of 23.64. We should have a stop loss in place at 31.66though. 31.57 is the first level of resistance above 26.3, and by rule, any test of resistance is a short signal. In this case, if resistance 31.57 is being tested, a short signal would exist.

Swing Trading Plans for GME

• Buy GME slightly over 31.57, target n/a, Stop Loss @ 31.48 Details

If 31.57 begins to break higher, the technical summary data tells us to buy GME just slightly over 31.57, with an upside target of n/a. The data also tells us to set a stop loss @ 31.48 in case the stock turns against the trade. 31.57 is the first level of resistance above 26.3, and by rule, any break above resistance is a buy signal. In this case, 31.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GME slightly near 31.57, target 23.64, Stop Loss @ 31.66. Details

The technical summary data is suggesting a short of GME if it tests 31.57 with a downside target of 23.64. We should have a stop loss in place at 31.66 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 31.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GME

• Buy GME slightly over 31.57, target n/a, Stop Loss @ 31.5 Details

If 31.57 begins to break higher, the technical summary data tells us to buy GME just slightly over 31.57, with an upside target of n/a. The data also tells us to set a stop loss @ 31.5 in case the stock turns against the trade. 31.57 is the first level of resistance above 26.3, and by rule, any break above resistance is a buy signal. In this case, 31.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GME slightly near 31.57, target 23.64, Stop Loss @ 31.64. Details

The technical summary data is suggesting a short of GME if it tests 31.57 with a downside target of 23.64. We should have a stop loss in place at 31.64 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 31.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

GME Ratings for March 21:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	16.57
P2	17.07	15.42	23.64
P3	18.07	17.05	31.57

Support and Resistance Plot Chart for GME

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