GME 15 min Ad Hoc Analysis

As part of the excitement surrounding GME, I will be doing occasional technical analysis of the price action. After the retracement to the deep 61.8% fib level, we can see a clear bull channel has formed. The regression analysis has a solid 90% correlation (R2) which indicates this channel is very predictable. It is being tested as I right this. VWAP (light pink line) indicates that this is clearly overbought. Price will likely come down to the VWAP. Bulls should hold off on buying until price is at the bottom of the bull channel and where VWAP is in a favorable position (above the price)