Candle

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GameStop stock price (NYSE: GME) fell 8.32% in this month.</a> </li> 
 <li> <span>2</span> <a>GME stock price hit a 52-week low at $14.44.</a> </li> 
 <li> <span>3</span> <a>GameStop Corp. stock price struggles to sustain above the $15.00 level.</a> </li> 
</ul> 
<p>GameStop Corp. GME stock price fell 8.32% in the current month and hit a 52-week low at $14.44. It faced rejection from $20.00 and began to decline by forming lower-low candles.&nbsp;</p> 
<p>GameStop stock price broke down the crucial swing low support of $16.00 which raised concern for its long-term investors. However, the stock price is taking support near $15.00 and buyers are trying to give a short-term pullback.&nbsp;</p> 
<p>GME stock price is in a downtrend but the current price has gone far away from the EMAs. So, a minor pullback rally to the 50-day EMA may come.&nbsp;The price pattern of GameStop Corp. looks bearish. So, any short-term pull toward the EMAs might face difficulty in holding the higher levels.&nbsp;</p> 
<p>However, in the last two months, the stock continuously declined and eroded all its previous gains. Hence, consolidation in a narrow range is needed for base formation.&nbsp;</p> 
<p>At present, the price action does not show any signs of upward reversal. So, the investors need to be careful before building any positions.&nbsp;GameStop <a href="https://www.thecoinrepublic.com/2023/10/06/gme-stock-shed-14-weekly-bounce-or-fresh-52-weeks-low-ahead/" target="_blank" rel="noreferrer noopener">stock price</a> closed the previous session at $15.09 with an intraday decline of -4.61%.</p> 
<h2 class="wp-block-heading" id="strong-will-gamestop-corp-gme-stock-price-repeat-history-strong"><strong>Will GameStop Corp. GME Stock Price Repeat History?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="678" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398.png" alt="GameStop Stock Price Analysis: Will GME Stock Price Defend $15?" class="wp-image-175493" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-398-1140x483.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NYSE: GME daily chart by <a href="https://www.tradingview.com/x/SFWT2vlb/">Tradingview</a>
  </figcaption>
 </figure>
</div> 
<p>GameStop Corp. GME stock price is in the bears’ grip and sellers are continuing their dominance. In 2023, the stock took support multiple times near $15.00 and reversed upward.&nbsp;</p> 
<p>At present, the price is near its long-term demand zone so the historical price patterns may repeat again. However, the confirmation of the trend reversal will come when buyers are able to break out of the $20 hurdle.&nbsp;</p> 
<p>The technical analysis suggests the downfall in <a href="https://www.thecoinrepublic.com/2023/10/06/gme-stock-shed-14-weekly-bounce-or-fresh-52-weeks-low-ahead/" target="_blank" rel="noreferrer noopener">GME stock</a> price has halted and a pullback rally is pending.</p> 
<h3 class="wp-block-heading" id="strong-gamestop-stock-price-formed-inverted-hammer-candle-strong"><strong>GameStop Stock Price Formed Inverted Hammer Candle</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_7177e"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:GME",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;RSI",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_7177e"
}
  );
  </script> 
</div>  
<p>GameStop stock price fell for four consecutive weeks and formed a bearish pattern. In the current week, the stock displays an inverted hammer candle. It shows that sellers are active and it will be not easy for bulls to reverse the trend.&nbsp;</p> 
<p>The MACD curve is below the zero line but the curve is sloping sideways. It indicates that the price might spend some time in consolidation before deciding the next direction.&nbsp;</p> 
<p>The RSI at 37 slopes down and denotes oversold territory. So, it will be risky for short sellers to create further shorts.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>GameStop Corp. GME stock price is in a correction phase and sellers are continuing their dominance. However, at present, the GameStop stock price is near the long-term demand zone. So, investors expect the historical patterns may be repeated.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $19.51 and $23.64</li> 
 <li>Support levels: $14.46 and $14.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.&nbsp;</p>

GameStop Stock Price Analysis: Will GME Stock Price Defend $15?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 13, 2023

KO Stock Price Analysis: Recent Fundamental and Technical Outlook

BRICS: George Soros Business Partner Predicts Future of the US Dollar

Revolutionizing Bitcoin Mining: Cooling Methods for Enhanced Efficiency

Cheelee Opens Series A Fundraise Following Huge Success of Over 500K Active Users Within One Mont...

Why JP Morgan and BlackRock are All In on Bitcoin Mining?

Famous Market Maker Carried This Altcoin to the Stock Exchanges! Price Increased by 32 Percent!

Join our free newsletter for daily crypto updates!