Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GameStop Corporation’s stock price decreased by -10.84% over the past seven days.</a> </li> 
 <li> <span>2</span> <a>At press time, GameStop Corporation’s stock price was $18.59 with an intraday drop of 3.83%; market cap was $5.665 Billion.</a> </li> 
 <li> <span>3</span> <a>GME stock has witnessed the Berish pressure in recent times.</a> </li> 
</ul> 
<p>GME stock has stayed in a downtrend over the past months and persisted in forming lower highs and lower lows sequences, facing rejection from the upper trendline, which acted as a barrier. GameStop Corporation’s (NASDAQ: GME) stock price shows bearishness, losing the gains below the key moving averages.</p> 
<p>Recently, GME stock gave a breakdown below the 200 and 50 EMA, but the flight did not last long as the bears dragged the price down. Afterwards, buyers did not hold the momentum and started unwinding their positions resulting in slippages in stock price.</p> 
<p>In contrast, sellers have a strong edge and continue to make short positions. Furthermore, the price action shows that GameStop Corporation stock has persisted in facing selling pressure, and the buyers are on the back foot.&nbsp;</p> 
<p>At press time, GME stock was trading at $18.59 with an intraday minor loss of 3.83% breaking below the 50 and 200-day EMA, showing strong bearishness on the charts.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-gamestop-corporation-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of GameStop Corporation Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/_JgkQAS7JyKaTNg9Jtv0-4CxCi3wVhIG1zDmfVxubB0tRs9iP-wjQgKhtDADNgUoI7HzKqWfwLHZRdaIUZcHPuIbubwG3gwU1GVhy6KffP3yp_3KoPf_iCcaISPeVCmbuD7lD96Dh6goJvYifqZhk7k" alt="GME Stock Prospects 2023: Is GameStop Transforming the Game?"> 
  <figcaption class="wp-element-caption">
    Source: GameStop Corporation.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>In the last 1 month, it gave a negative return of -18.75% and -10.84% in the last seven days indicating a long Bearish ongoing trend.</p> 
<p>If GameStop Corporation can maintain this level, the GameStop Corporation price could continue to rise and reach the first and second targets of $24.28 and $26.35. However, if it falls below $18.59, it could hit the support levels of $20.96 and $19.71.</p> 
<p>GameStop Corporation stock is currently trading below the 50-day and 200-day SMAs, which are providing support to the price trend. However, if selling pressure increases, the price could break below these SMAs and move lower.</p> 
<p>The RSI indicator is currently at 25.21, which is in the neutral zone. However, the 14-day SMA is above the MACD line at 34.84, which is a bearish signal.</p> 
<p>The MACD indicator is also bearish, with the MACD line crossing below the signal line. This indicates that the<a href="https://www.thecoinrepublic.com/2023/08/09/gamestop-corp-nyse-gme-near-20-is-the-time-to-accumulate/" rel="noopener noreferrer nofollow"> GameStop Corporation stock </a>could fall in the near future.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized"> 
  <img decoding="async" loading="lazy" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-1024x466.png" alt="GME Stock Prospects 2023: Is GameStop Transforming the Game?" class="wp-image-159948" style="width: 100%;height:513px" width="1128" height="513" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-88.png 1433w" sizes="(max-width: 1128px) 100vw, 1128px"> 
  <figcaption class="wp-element-caption">
    Source: GameStop Corporation.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>The 24-hour trading volume is 3.01 Million and average 10 days trading volume is 2.11 Million and the shares float value is 265.564 Million.</p> 
<p>Overall, the technical indicators suggest that GameStop Corporation stock is bearish in the short term. However, if it can maintain the $30 level, it could continue to rise in the long term.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/09/gamestop-corp-nyse-gme-near-20-is-the-time-to-accumulate/" rel="noopener noreferrer nofollow">GameStop Corporation (NASDAQ: GME)</a> technical oscillators reinforce the negative trend. The MACD, RSI, and EMA are stressing negative signs and indicated that the downtrend may resume in the GME stock price. GameStop Corporation price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support Levels: $20.96 and $19.71.</li> 
 <li>Resistance Levels: $24.28 and $26.35.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

GME Stock Prospects 2023: Is GameStop Transforming the Game?

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