GME pops to highest close since July 9th


GameStop Corp. (GME) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
GME rises to highest close since July 9th
GME closes within previous day's range
GME ends the day indecisive
TQ Sentiment
Report Sentiment: 20% Bullish
Technical Forecast:
Overview

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 chart for GME
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 15.07.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for GameStop Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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