Gamestop Stock Forecast
A very red day for Gamestop stock price after a -15.03% fall in the Wednesday trading session
(Updated on Mar 27, 2024)
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.01 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.77% during the next 3 months and, with a 90% probability hold a price between $11.74 and $14.71 at the end of this 3-month period.
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GME Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 0.534%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gamestop stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.92 and $14.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Gamestop stock
Gamestop finds support from accumulated volume at $13.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.92 between high and low, or 7.19%. For the last week, the stock has had daily average volatility of 7.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GME) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Gamestop Corporation to open at $13.23, and during the day (based on 14 day Average True Range), to move between $12.27 and $14.07, which gives a possible trading interval of +/-$0.90 (+/-6.85%) up or down from last closing price. If Gamestop Corporation takes out the full calculated possible swing range there will be an estimated 13.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.10 (0.53%) than the resistance at $15.12 (14.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gamestop Corporation stock A Buy?
Gamestop holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.179 Sell Candidate Downgraded
Predicted Opening Price for Gamestop Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$13.23 ( 0.456%) | $13.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GME
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.15 | 7.44 % | |
R2 | 13.80 | 4.77 % | ||
R1 | 13.58 | 3.12 % | ||
Current price: | 13.17 | |||
Support | S1 | 12.88 | -2.21 % | |
S2 | 12.66 | -3.86 % | ||
S3 | 12.31 | -6.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.50 | 17.69 % | |
R2 | 15.26 | 15.87 % | ||
R1 | 15.12 | 14.81 % | ||
Current price | 13.17 | |||
Support | S1 | 13.10 | -0.532% | |
S2 | 0 | . | ||
S3 | 0 | . |
GME Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 04, 2019 | Mar 14, 2019 | Mar 29, 2019 | $0.0950 | 3.74% |
2 | Nov 29, 2018 | Dec 10, 2018 | Dec 21, 2018 | $0.0950 | 3.18% |
3 | Sep 06, 2018 | Sep 17, 2018 | Oct 02, 2018 | $0.0950 | 2.55% |
4 | May 31, 2018 | Jun 11, 2018 | Jun 26, 2018 | $0.0950 | 2.54% |
5 | Feb 21, 2018 | Mar 02, 2018 | Mar 20, 2018 | $0.0950 | 2.62% |
FAQ
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