The Long Investor

$GME

Added 2023-08-05 20:28:11 +0000 UTC

When we spoke about $GME during the week and its possibilities, it was still in its smaller ascending triangle, as long as it held in this formation, I was leaning towards a break out to the upside.

However, the market had a different plan.....and with weakness in the market, an outdated company like $GME would not be immune.

Needless to say, I do not like this company and during the $GME craze, they decided to pivot into NFT's, I thought this was an even bigger mistake, as they are chasing one bubble to the next.

I believe there is still a cult following here and it is still liable to go in any direction as people gamble on its direction and lets be clear here, this is pure gambling.

$GME represents all the failures of bad investing, the only good outcomes from owning $GME is that when people lose money, they realise that long term investing is the sensible way to invest.

$6 target is the target if it breaks down from the large wedge.

The highest warning possible comes with this chart.