GameStop quotes continue to move within the fall and the downtrend channel. Moving averages indicate a short-term bearish trend in GME. Prices moved down from the area between the signal lines downward, which indicates pressure from the sellers of securities. At the time of publication of the forecast, the share price is 202.72. As part of the forecast, we should expect an attempt to develop a correction and test the resistance level near the 210.05 area. Further, the rebound and the continuation of the fall in the value of securities. A potential target of such a movement is the area below the level of 140.05.
GameStop Forecast and Analysis for July 2021
An additional signal in favor of the fall in GameStop quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling GameStop stock prices will be a strong growth and a breakdown of the level of 240.05. This will indicate a breakdown of the resistance area and a continued rise to the area at the level of 285.05. Expect an acceleration in the fall of shares with a breakdown of the support area and closing below 180.05, which will indicate a breakdown of the lower border of the bearish channel.
GameStop Forecast and Analysis for July 2021 assumes the development of a correction and a test of the resistance area near the level of 210.05. Where can we expect a rebound and an attempt to continue the pair’s fall to the area below the level of 140.05. A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the currency pair. Cancellation of the option to reduce GME will be a strong growth and a breakdown of the level of 240.05. This will indicate a breakdown of resistance and a continued rise in value to the area above the level of 285.05.
