GME pops to highest close since July 9th
GameStop Corporation (GME) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
GME finished the week 3.16% higher at 15.32 after gaining $0.11 (0.72%) today. Today's closing price of 15.32 marks the highest close since July 9th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (GME as at Aug 10, 2018):
Friday's trading range was $0.50 (3.29%), that's above last trading month's daily average range of $0.41. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 15.07.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the close-by swing low at 14.98 where further sell stops might get activated. Trading close to June's high at 15.98 we could see further upside momentum if potential buy stops at the level get triggered.