$GME: To Bump and RUN! Or to Dump and man bun? — Jackie Le' Tits — Video Wiki
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Full transcript (1,807 words) — every glorious word
0:01Hello everyone. It's Jackie back for wow, it feels like 44 years since we had a GME update. Very good. Oh yes. I'm going to try and uh keep this one short. The goal is uh 5 to 10 minutes. Okay. So, I'm just going to give you kind of a recap of some of the thoughts that we've had, some of the ideas, how those are playing out, the things to watch for now, and uh to see if this breakout can continue. So today we had a really great big candle, one of the best that we've seen in quite some time [sighs] following that harmonic completion. Uh a lot of you guys had mentioned the possibility of a bump and run here, right, with the bump phase here and now in the midst of the run. Now, obviously yesterday things didn't look nearly as good with that big retracement candle. Oh my god. It went backwards 1.4%. How many got but but now it's back up five and a quarter and we're good. And you know what's really fun is with bump and runs what you look for at the end of the structures or when you enter what's called the bump phase, right? So you have the frying pan, okay? You have the frying pan, the bump, and then the run. All right? And with the run, what you look for in the final phase, the run phase, is you look for it to have the volume start to increase. Right? And look at this. Isn't this nice? Where you're starting to see the volume ramping up as we're making this breakout. Very, very bullish. The next pit stop theoretically if we can make a next really healthy big candle would be to get to the top side of this trend line and this macro 382 of which let's talk about the fibs here quick. You have broken the 236. You haven't opened and closed above it yet. Okay, but you've broken it. This is a great great great start that we've seen. Tomorrow, if we can open and close above it, we should theoretically have the 80% chance of going to the 382. Right now, beyond the 80% chance, we also have a couple of those indicator signals. There's not really a whole bunch worth repeating, but we're almost there to the first one. Then
2:26we have another one all the way up here at 2187. Okay, but I don't worry, you know that's shady. [sighs and gasps] The next big thing to talk about is the resistance that we found here today. It wasn't surprising, right? I'm not surprised. If we take a look, we ran directly into the daily 50 period moving average. This is the first test that we've had of that moving average since the gap down of Oh my god, it's over. [laughter] Oh my god. Okay, so we've run into it, but look at the size of this candle. We've printed a very bullish big candle on healthy volume. We want the break. If we can get the break through the daily 50, we should be able to see that strong push all the way up to this area here that we've highlighted at the 382 at approximately 2083. Because we're in the midst of that bump and run, I'm really hoping that we can just, you know, just kind of pile it on and keep carrying that momentum because it looks good and it looks strong. Now, the last couple of things that we have to talk about, profit target number two, or excuse me, number one off of this harmonic, this deep butterfly we have here is the 3A2. So, there's another layer of confluence following this reaction that we've now seen in the potential breakout. Sky Daddy in the Discord highlighted the possibility of this being an inverted head and shoulders if we measure the potential profit target of that. Again, not surprising that the potential profit target of that would take us right to that 382 in the top side of that trend line for the bump and run. So, you're seeing a lot of technical confluence. Now, what I really wanted to get into, there's two indicators that I love to use. You guys know them and you know them well. It's the Ballinger bands and the RSI. So, let's just kind of talk let's let's clear out the chart here for a second. [sighs] Let's talk about the RSI. The RSI has successfully broken through center and it's [ __ ] vertical. It's vertical, bro. But this isn't the only thing that excites me because if we go to the 3-day, you guys remember that 3-day RSI wedge and what the [ __
4:52] No, but but seriously, it's it's actually on the verge of breaking out. Like look look at look at how where it is on the top of this trend line. Now the 3-day candle still has two days remaining in it. So we still have lots of time before this candle is actually closed. But guys this is really really really really really positive. Okay. And we're looking for the breakout through that. And if we do get that then the last and final boss D. So, we just been playing Super Mario too much. So, that's the final boss, the center line. You break that thing after getting out of this wedge. Well, we're headed to chicken Alaska. All right, that's that's what we're looking there on the RSI, right? But now I kind of want to talk about more importantly the Ballinger bands, guys. I don't believe it. But that technical analysis that we did about the Ballinger bands, it worked. And now we have seen the candle that has technically pushed us outside of them. It's not the end of the world because I'm gonna explain in a second. But the daily Ballinger bands have begun bulging. Bulge. This bulge suggests that the breakout is here. And now we look for follow through. One of the examples that we have continuously turned our attention to is 2024. But let me show you a few other examples of moments that this has happened. Here's 2024, right? Ballinger bands begin to bulge right here, right? Candle breaks out, then another massive one. Consolidate, consolidate, consolidate. Boom. Right? But look at some of these other examples here. Okay? Here's here's October of 2024. All right, check this out. Ballinger bands bulge on candles that break, break, consolidate. Boom. Right. Come back down. Test the center. Consolidate. Consolidate. Consolidate. Consolidate. Boom. New high. First the bulge and the breakout and then look back over here. Look back over here. Hey. Hey, look at this. Ballinger band squeeze. Ballinger band bulge candle. Candle candle. Hooray. And look at where we are. Squeeze. Bulge. Break. Break. Consolidate. Break. Look how good this licks. [laughter] I said licks. [gasps] Look how good it looks. I don't know. GameStop probably doesn't lick the cards they deliver, right? >> Okay. I'm hearing that they charge extra for licking the cards. So, Ryan, you know what
8:43to do both with purchasing stock and licking the of the carts. Um, if your favorite Pokemon is Ditto or Lick Tongue, look, this is real life. Look, I think that's his name, right? Yeah. There you go. Look, there's Ryan's favorite Pokemon. You see that? Oh, that's probably a better version right there. That's so that's his favorite Pokemon. There he is licking the cards that he's about to deliver to you guys. You know, classic. But okay, I'm getting off track. The important thing here, guys, with the Ballinger bands, at least on the daily, is that they have begun bulging. But then there's a couple of other things that are happening on more macro ones, the weekly, they're beginning to start squeezing and getting back together. And a breakout towards the gap fill that we have here would take us to none other than the center line of the weekly bands. But then we turn our attention to the monthly guys. We have found support on the monthly lower band and we're bouncing. And if we can continue this momentum, guess where the center line is? You wouldn't believe it. Around 2295, the macro point of control, which just so happens to be on the daily, the top of the bump and run. Confluence, confluence, confluence, confluence. Now, all we're looking for is that final that final. [clears throat] All right. So, here's the deal. Here's the numbers. Here's the numbers that you care about. Here's the numbers that matter. First, pull a fib from the most recent highest high, which is going to be our harmonic completion. Okay. Next, pull a fib from the highest high of this run. Okay. So, pull a fib from the highest high of this run. That's going to be here. Take it to the lowest low. That's going to be I think right here is okay. Those are the targets and these are the supports and resistances. Resistance is going to be the daily 50. We already know this. Okay, that's what we ran into today. So that's going to be at about 2020. Okay. Then resistance above 2085. That's the 382. And then we start looking and talking about the gap fill in the daily 200 at 2222. Now if we have another day that looks like say Tuesday, your support is right here 1963. If we fail that,
11:48easy easy. Pull a fib just like this. Boom. Boom. Here's your supports. 1960, 1930, 19 flat. Easy, easy, easy, easy, easy. Because we are in a bump and run or what we speculate to be a bump and run. We are not looking for this to pause. We We want this next candle tomorrow to start pushing. So, let's get the tush push. All right. It's a It's a [ __ ] football thing, I think. I'm pretty sure. >> No, look here. I'll show you the tush push. >> Oh, yeah. You're probably right. No, that's No, I better I'll put football at the end of it and then that'll that'll make it better. See, look. No, look. It's the tush push. It really Look, it's really See, look. There's a [ __ ] YouTube video with it. Look. Look at the meme. It's the tush push. You see? I'm not making it up. I'm telling you, that's a real football thing. So, so listen though, that's what we kind of got in front of us, folks. We're looking for that further push. We're looking for the volume to continue to ramp up. But look at this. 15.59 million. Hit me baby one more time.