GameStop Corporation Stock Analysis
GME stock is on the radar of many traders. Its what everyone has been talking about. It is an especially interesting stock because of it's monstrous rally up from around $30 to over $300 in just a matter of days. I myself, didn't know this stock existed until a few days ago...by then it was too late to enter. But anyhow, I thought this stock is gonna make history...so that's why I'm doing an analysis on it.
I think it's severely overbought, and we shouldn't see much more of an increase in price. The candle on thursday confirms this because it went down quite a bit that day. Then it partially recovered the next day (friday). Now it's sunday...and tommorow, the market opens. So I bet that it's either gonna move up a little more for a few days or stay flat or most likely... move down. But the takeaway here is that I sense GME is overbought or close to overbought. So I drew the pathway the price will most likely take in the chart above for GME.
So basically, the picture says a thousand words...and we should expect a dip in GME's price before continuing upwards or staying flat. Enjoy!
I think it's severely overbought, and we shouldn't see much more of an increase in price. The candle on thursday confirms this because it went down quite a bit that day. Then it partially recovered the next day (friday). Now it's sunday...and tommorow, the market opens. So I bet that it's either gonna move up a little more for a few days or stay flat or most likely... move down. But the takeaway here is that I sense GME is overbought or close to overbought. So I drew the pathway the price will most likely take in the chart above for GME.
So basically, the picture says a thousand words...and we should expect a dip in GME's price before continuing upwards or staying flat. Enjoy!
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