GAMESTOP CORP-CLASS A (GME) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:GME • US36467W1099
Taking everything into account, GME scores 7 out of 10 in our technical rating. GME has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
- Both the short term and long term trends are positive. This is a very positive sign.
- GME is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- 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 8243470 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, GME outperforms 61% of them, which is more or less in line with the market.
- GME is part of the Specialty Retail industry. There are 121 other stocks in this industry, GME did better than 62% 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.
GME has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 25.64. Right above this resistance zone may be a good entry point.
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19.74
When analyzing the support we can see 5 important areas.
- Support @23.67 from a trend line in the daily time frame.
- A support zone ranging from 22.30 to 22.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @21.19 from a trend line in the weekly time frame.
- Support @20.65 from a horizontal line in the weekly time frame.
- Support @19.94 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 25.64 to 25.85. This zone is formed by a combination of multiple trend lines in the daily 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 | UP | POSITIVE | The long term trend for GME is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GME is up. |
| ChartMill Relative Strength | 61.48 | NEUTRAL | GME is not amongst the best or worst performers 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) | 62.49 | NEUTRAL | The RSI value for GME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.23 | POSITIVE | The MACD value suggests GME has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.03 | OVERBOUGHT | The high Stochastics value suggests GME may be overbought. |
| Average True Range in percent/ATR (20) | 4.04 | MEDIUM VOLATILITY | The ATR as a percentage value for GME suggests some volalility. |
| Average Directional Index/ADX (14) | 36.53 | POSITIVE | The high ADX value value for GME suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 25.86 | 23.66 | 2.20 (8.51%) | 11.75% |
| An entry @25.86. This is a Buy Stop order right above the resistance zone. | An exit @23.66. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.20 points, which is 8.51%. | When investing 11.75% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
24.98
+0.29 (+1.17%)
GAMESTOP CORP-CLASS A / GME FAQ
What is the technical rating for GME stock?
ChartMill assigns a technical rating of 7 / 10 to GME.
Can you provide the trend direction for GAMESTOP CORP-CLASS A?
The current trend direction for GAMESTOP CORP-CLASS A (GME) is Bullish.
What is the RSI signal for GME stock?
GAMESTOP CORP-CLASS A (GME) has an RSI value of 62.4885. This indicates that the stock is currently neutral.
What is the MACD signal for GME stock?
The MACD indicator for GAMESTOP CORP-CLASS A (GME) has a value of 0.229177, indicating a bearish trend.
What is the short term momentum for GAMESTOP CORP-CLASS A (GME) stock?
The short term momentum for GAMESTOP CORP-CLASS A (GME) is positive.