GameStop price: GME to start a serious bearish movement

Share On Facebook
share on Linkedin

GameStop shares (NYSE:GAME) have recently enjoyed a parabolic rise in price, which is purely unsustainable. Following several months of a strange consolidating movement, the market skyrocketed from around 4.00, almost reaching 500.00. Then that was followed by a noticeable correction.

The Bollinger Bands is in a big bounce and price has gone far above it, signaling a correction. The Parabolic SAR also has appeared above the price, supporting the coming deep correction.

The kind of gamble that is currently seen on GAME does not have any solid fundamentals to sustain it, and therefore, the support level at 50.00 is the target for the 2021.


Teach Yourself Technical Analysis: Teach Yourself Technical Analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210515 04:31:40