GME continue to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a short-term bullish trend in GameStop. Prices are testing the area between the signal lines again, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 248.08. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the 175.05 area. Further, a rebound and continued growth in the value of securities. The potential target of such a movement is the area above the level of 700.00.
GameStop Corp Forecast and Analysis February 2, 2021
An additional signal in favor of the growth of GameStop quotes will be a test of the rising support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the growth option for the price of GME shares will be a fall and a breakdown of the level of 145.00. This will indicate a breakdown of the support area and continued fall into the area at 55.00. It is worth waiting for the acceleration of the growth of shares with the breakdown of the resistance area and closing above the level of 405.00, which will indicate a breakdown of the upper border of the “Triangle” model and the beginning of the development of this pattern.
GameStop Corp Forecast and Analysis February 2, 2021 implies the development of a correction and a test of the support area near the level of 175.05. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 700.00. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the growth option for GME will be a fall and a breakdown of the level of 145.00. This will indicate a breakdown of support and a continued fall in value to the area below the level of 55.00.
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