GameStop Corp (GME): Price Now Near $217.82; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for GME

At the moment, GME (Get Ratings)’s price is down $-8.08 (-3.58%) from the hour prior. This is the 2nd hour in a row GME has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Out of Retail stocks, GME ranks 147th in regards to today’s price percentage change.

GME’s Technical Outlook on the Daily Chart

At the moment, GME’s price is down $-11.62 (-5.07%) from the day prior. The daily chart shows that GME has seen 2 straight down days. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GameStop Corp’s price action over the past 90 days can be seen via the chart below.

GME

For GME News Traders

News traders keeping an eye on GME may find value in this recent story:

Here are the biggest short squeezes in the stock market, including Virgin Galactic and AMC Networks

Below is a new list using the same criteria we used to pull this list of heavily shorted stocks during the Reddit/Robinhood mania in late January. The biggest short squeeze in the Russell 3000 appears to be Virgin Galactic Holdings Inc. (SPCE) which more than doubled in four weeks and was 27.82% sold short on June 11.

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