Hello, Barry Einarson from Trade Ideas here, and welcome to today’s edition of “What Makes This Trade Great.”

Today, we’re diving into the fascinating action of our old friend, GME—the Meme Stock Deluxe.

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Last Friday afternoon, GME experienced some notable activity. The 4:10 PM candle showed a significant amount of movement, even extending into after-hours trading. The market was closed on Monday, so let’s look at what happened on Tuesday morning.

Tuesday morning saw a continuation of the action. Once GME took out the high of $24.29, it really took off, eventually hitting a high of about $26.67.

If we look at the weekly chart, the next significant high is $64. However, on the daily chart, the next high appears to be $35. While we can’t predict the future with certainty, if GME maintains above $25 today, we might see another run into the thirties.

The meme stock frenzy around GME is back, and its future trajectory remains to be seen. Let’s stay tuned and see where this ride takes us.

Thank you for tuning in. I need to get back to the trading room. See you tomorrow! Try Trade Ideas Today