After 7 days in The Rogue Portfolio, a red flag popped up on GME’s chart. An inverted hammer coupled with increased volume formed today. While this is a bearish signal, there are still positives that are keeping this stock in The Rogue Portfolio.
First, GME didn’t fall below the 50MA or 20MA. Both of these moving averages act as support and we could get a bounce off them. Next, GME is making higher lows. This basically means that the up-trend is still confirmed. Lastly, while the stock did finish off lows, it was up almost 1.5%.
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