Million

Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GME stock is in the hands of bears, showcasing bearishness on the daily chart.</a> </li> 
 <li> <span>2</span> <a>GameStop stock price is below the key moving averages.</a> </li> 
</ul> 
<p>Gamestop stock price (NYSE: GME) shows signs of weakness, losing momentum below the key moving averages. GME stock tried to break the upper trendline, but it was a failed attempt as the price was pushed down by the bears. The buyers failed to maintain the momentum and started to exit their positions, resulting in a decline in the stock price.</p> 
<p>Gamestop stock has been in a downtrend for the past year, forming lower highs and lower lows patterns, and facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that Gamestop stock price has been under selling pressure, and that the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.</p> 
<p>At press time, GME stock was trading at $14.43 with an intraday loss of 3.28%, breaking below key EMAs, showing bearishness on the charts. Moreover, intraday trading is 3.509 Million with average 10-day volume of 3.509 Million. The market cap of GME stock is $4.405 Billion.</p> 
<p>Over the span of a week, GME stock experienced a decrease of approximately 2.30%, and this decline has been seen in the course of a month also, reaching around 21.41%. Looking back over a three-month period, GME shares have dropped by about 36.49%, while the decline extended to around 32.19% over the last six months. Furthermore, the stock’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 22.59%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-gamestop-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of Gamestop Stock Price in 1-D Time Frame</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-1024x464.png" alt="GameStop Stock: GME Stock Price in the Bears’ Grip; What Next?" class="wp-image-176508" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-500.png 1273w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Gamestop.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div> 
<p>Gamestop 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 lower levels.</p> 
<p>The RSI indicator is currently at 33.15, which is in the near-oversold zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.</p> 
<p>The MACD indicator is bearish, with the MACD line crossing below the signal line. This indicates that the Gamestop <a href="https://www.thecoinrepublic.com/2023/10/13/gamestop-stock-price-analysis-will-gme-stock-price-defend-15/">stock</a> is likely to continue to fall in the near future.</p> 
<p>Overall, the technical indicators suggest that Gamestop stock is bearish in the short term. However, if it can maintain the current level, it could rise again and be bullish in the long term.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p>Gamestop (NYSE: GME) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the GME stock price. Gamestop price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<p>Support Levels: $12.00 and $10.00.</p> 
<p>Resistance Levels: $17.53 and 21.10.</p> 
<h3 class="wp-block-heading" id="strong-disclaimer-strong"><strong>Disclaimer</strong></h3> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

GameStop Stock: GME Stock Price in the Bears’ Grip; What Next?

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