GME Technical Analysis - GAMESTOP CORP-CLASS A

Technical Rating and Analysis

Overall GME gets a technical rating of 6 out of 10. In the past year, GME was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

In the last month GME has a been trading in the 22.18 - 26.42 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

GME has an average volume of 8637040 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, GME did better than 75% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.

GME is part of the Specialty Retail industry. There are 121 other stocks in this industry, GME did better than 64% of them.

GME is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so GME is lagging the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

GAMESTOP CORP-CLASS A / GME Weekly stock chart

GAMESTOP CORP-CLASS A / GME Daily stock chart

Setup Rating and Analysis

GME has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

21.51

32.63

We found 2 important support areas.

A support zone ranging from 22.14 to 22.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @21.73 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice one important area.

Resistance @32.31 from a horizontal line in the weekly time frame.

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The long term trend for GME is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for GME is up.
ChartMill Relative Strength	75.19	POSITIVE	GME has a high relative strength, it outperformed 75.19% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of GME is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of GME is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of GME is above a declining SMA(200).
Relative Strength Index/RSI (14)	74.21	OVERBOUGHT	The high RSI value suggests GME may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.39	POSITIVE	The MACD value suggests GME has a positive trend.
Stochastics (14,3)	91.67	OVERBOUGHT	The high Stochastics value suggests GME may be overbought.
Average True Range in percent/ATR (20)	2.58	MEDIUM VOLATILITY	The ATR as a percentage value for GME suggests some volalility.
Average Directional Index/ADX (14)	26.39	POSITIVE	The high ADX value value for GME suggests a strong trend.