October 30, 2024, 12:22 AM ET, BY Jesse F. – Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for GME

• Buy GME near 19.28 and target a stop loss of 24.81 at 19.22 Details

The technical summary data tells us to buy GME at around 19.28 with an upside target of 24.81. This data also tells us to set a stop loss at 19.22 to protect ourselves from excessive losses in case the stock starts moving against the trade. 19.28 is the first level of support below 22.68 and basically any test of support is a buy signal. In this case, the support at 19.28 would be tested, giving a buy signal.

• Short GME just below 24.81, target 19.28, stop loss at 24.88 Details

Summary technicals suggest a short position on GME as it approaches 24.81 and the downside target is 19.28. However, we should have a stop loss at 24.88. 24.81 is the first resistance level above 22.68, and basically any test of resistance is a short signal. In this case, if the resistance 24.81 is tested, a short signal is present.

Swing trading plans for GME

• Buy GME slightly above 24.81, target 35.36, stop loss at 24.74 Details

If 24.81 starts to break out higher, the summary technicals tell us to buy GME just above 24.81 with an upside target of 35.36. The data also tells us to set a stop loss at 24.74 in case the stock turns against the trade. 24.81 is the first resistance level above 22.68, and basically any break above resistance is a buy signal. In this case, 24.81, the initial resistance, would break upwards, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short GME close to 24.81, target 22.2, stop loss at 24.88. Details

Technical summary data suggests shorting GME if it tests 24.81, with a downside target of 22.2. However, we should have a stop loss at 24.88 in case the stock starts moving against the trade. Basically, every resistance test is a short signal. In this case, if the resistance 24.81 is tested, a short signal is present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for GME

• Buy GME slightly above 23.07, target 24.81, stop loss at 23.02 Details

If 23.07 starts to break out higher, the summary technicals tell us to buy GME just above 23.07 with an upside target of 24.81. The data also tells us to set a stop loss at 23.02 in case the stock turns against the trade. 23.07 is the first resistance level above 22.68, and basically any break above resistance is a buy signal. In this case, 23.07, the initial resistance, would break to the upside, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short GME close to 23.07, target 22.2, stop loss at 23.12. Details

Technical summary data suggests shorting GME if it tests 23.07, with a downside target of 22.2. However, we should have a stop loss at 23.12 in case the stock starts moving against the trade. Basically, every resistance test is a short signal. In this case, if the resistance 23.07 is tested, a short signal would be present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Check the timestamp of this data. Updated AI generated signals for Gamestop Corporation (GME) available here: GME.

GME ratings for October 30:

AI generated signals for GME

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This report was generated using AI developed by Stock Traders Daily. Over the past 20 years, this proprietary AI has been refined to help identify the most advantageous trading strategies for both individual stocks and the stock markets themselves. This method is also applied to index options, ETFs and futures. The aim of this particular report is to optimize trading Gamestop Corporation (NYSE: GME) incorporating prudent risk controls.

Warning:

This is a static report. The following data was valid at the time of publication, but support and resistance levels for GME change over time, so the report should be updated regularly. Real-time updates are provided to subscribers. Unlimited real-time reports.

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Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, when GME tests support, buy signals emerge and resistance is the target. Conversely, if resistance is tested, it is a sign to control risk or sell, and support would accordingly be the downside target. In any case, the trigger point serves as both an ideal place to enter a position (avoid trading in the middle of a trading channel) and a risk control layer.

Swing Trades, Day Trades and Longer Term Trading Plans:

This data is refined to distinguish trading plans for day trading, swing trading and long-term investment plans also for GME. All of this is offered below the overview table.