Greetings fellow traders
Here we have the $GME daily chart with a highly overbought Stochastic. Recent earnings were a miss so run up should be short- lived. If it can't hold 14, expect a drop to 13 or lower as illustrated in the previous 3 overbought situations. i'm really bearish on brick and mortar retail anyway and this appears to be a good setup for a drop. Recent comments from the company's execs say their stores are all profitable so can't find any to close. What they fail to mention is the margin is razor thin, something like $50k per store a year. Comments welcome and thanks for looking.
Cheers