GME Trade on Mar 21, 2023 17:00 from BanalityOfEvil: Tradervue User Stock Trades.

Play
Breaking News Continuation Scalp After Hours

Catalyst
_04:10:18PM
GME
GAMESTOP NON-GAAP EPS OF $0.16 BEATS BY $0.29, REVENUE OF $2.23B BEATS BY $50M

Partner
04:05:55PM
GME
GAMESTOP Q4 ADJ. EPS $0.16 BEATS $(0.13) ESTIMATE, SALES $2.23B BEAT $2.18B ESTIMATEGameStop (NYSE:GME) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $(0.13) by 223.08 percent. This is a 134.04 percent increase over losses of $(0.47) per share from the same

BZ Wire
04:05:00PM
GME
GAMESTOP REPORTS FOURTH QUARTER AND FISCAL YEAR 2022 RESULTS_

Trade Idea
Price will continue to the 200MA

Setup Quality
A

• Breaking news surprise
• meme stock
• Market has been weak; strongest setup I have seen all day; high relative strength
• powerful 30min consolidation after initial AH move
• short float over 20%
• volume expansion
• R1 @ $25, followed by R2 @ 200MA
• ATR = .98 (up multiple ATR's and holding) could get at least 1 ATR of follow through
• Market breadth showing some strength throughout the day and into the close

Plan
bid into consolidation between 23 and 24 looking for a move to 26.50.
hold to target unless r2s

Reasons to Sell
- stopped out
- target hit
- price action slows or large seller will not lift

Executions and Price Action
Beautiful setup; 30min consolidation after initial move with reasonable target at 200MA based off past price action. after getting long volume expanded to break previous AH high. Had to leave desk to get my vehicle out of the shop. The porter arrived to give me a lift so I had to close position and leave. Left money on table but price moved cleanly to target.

followed plan, executed plan

Key Takeaways
keep an eye on the 200, this may provide continuation in coming days, although it may be short lived.

Waited all day for a decent setup. paid off.

Trade Summary

Multiple Timeframe Technicals

Market Breadth - bullish on the day and into the close