GAMESTOP CORP-CLASS A (GME) Technical Analysis
NYSE:GME • US36467W1099
We assign a technical rating of 8 out of 10 to GME. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, GME is only an average performer.
- GME is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so GME is lagging the market.
- The long and short term trends are both positive. This is looking good!
- GME is one of the better performing stocks in the Specialty Retail industry, it outperforms 71% of 124 stocks in the same industry.
- In the last month GME has a been trading in the 22.79 - 25.00 range, which is quite wide. It is currently trading near the high of this range.
- GME has an average volume of 7652800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that GME is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Besides having an excellent technical rating, GME also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 24.60. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.43, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
19.74
We found 4 important support areas.
- A support zone ranging from 22.81 to 23.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @21.77 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 24.60 to 25.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 72.13 | POSITIVE | GME has a high relative strength, it outperformed 72.13% 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) | 56.07 | NEUTRAL | The RSI value for GME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests GME has a negative trend. |
| Stochastics (14,3) | 73.76 | NEUTRAL | The Stochastics value for GME is a neutral value. |
| Average True Range in percent/ATR (20) | 2.92 | MEDIUM VOLATILITY | The ATR as a percentage value for GME suggests some volalility. |
| Average Directional Index/ADX (14) | 23.61 | NEUTRAL | The ADX value for GME suggests a possible start of a new 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 |
|---|---|---|---|
| 25.27 | 23.39 | 1.88 (7.44%) | 13.44% |
| An entry @25.27. This is a Buy Stop order right above the resistance zone. | An exit @23.39. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.88 points, which is 7.44%. | When investing 13.44% 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.
GME Technicals: Chart, Performance Metrics, Trend & Indicators
24.43
-0.03 (-0.12%)
GAMESTOP CORP-CLASS A / GME FAQ
What is the technical rating for GME stock?
ChartMill assigns a technical rating of 8 / 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 56.0743. 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 -0.0005927, 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.