GAMESTOP CORP-CLASS A (GME) Stock Technical Analysis
USA - NYSE:GME - US36467W1099 - Common Stock
We assign a technical rating of 0 out of 10 to GME. GME scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The technical rating of GME is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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21.51
When analyzing the support we notice one important area.
- A support zone ranging from 21.73 to 22.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 6 important resistance areas.
- Resistance @22.14 from a horizontal line in the daily time frame.
- A resistance zone ranging from 22.81 to 23.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 24.21 to 24.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @25.61 from a trend line in the daily time frame.
- Resistance @27.80 from a horizontal line in the daily time frame.
- Resistance @32.31 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for GME is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for GME is down. |
| ChartMill Relative Strength | 25.94 | NEGATIVE | GME has a low relative strength, it was outperformed by 74.06% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of GME is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of GME is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GME is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 35.66 | NEUTRAL | The RSI value for GME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests GME has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 11.28 | OVERSOLD | The low Stochastics value suggests GME may be oversold. |
| Average True Range in percent/ATR (20) | 3.13 | MEDIUM VOLATILITY | The ATR as a percentage value for GME suggests some volalility. |
| Average Directional Index/ADX (14) | 29.5 | POSITIVE | The high ADX value value for GME suggests a strong trend. |
22.01
+0.03 (+0.14%)
GAMESTOP CORP-CLASS A / GME FAQ
What is the ChartMill technical rating of GAMESTOP CORP-CLASS A (GME) stock?
ChartMill assigns a technical rating of 0 / 10 to GME.
What is the trend direction for GME stock?
The current trend direction for GAMESTOP CORP-CLASS A (GME) is Bearish.
What is the RSI signal for GAMESTOP CORP-CLASS A (GME) stock?
GAMESTOP CORP-CLASS A (GME) has an RSI value of 35.6573. This indicates that the stock is currently neutral.
What is the short term momentum for GAMESTOP CORP-CLASS A (GME) stock?
The short term momentum for GAMESTOP CORP-CLASS A (GME) is negative.
Can you provide the support and resistance levels for GAMESTOP CORP-CLASS A?
GAMESTOP CORP-CLASS A (GME) has a support level at 22 and a resistance level at 22.14. Check the full technical report for our detailed analysis of GME support and resistance levels.