GameStop continue to move within the correction and the bullish channel. The moving averages indicate a short-term bullish trend for the GME. Prices are re-tresting the area between the signal lines, which indicates pressure from buyers of securities and a potential continuation of the price rise. At the time of publication of the forecast, the value of the shares is 33.75. As part of the forecast, we should expect an attempt to develop a bearish correction and test the resistance level near the area of 31.55. Further, a rebound and continued fall in the value of securities. The potential target of such a movement is the area below the level of 47.85.
GameStop Forecast and Analysis July 29, 2022
An additional signal in favor of the growth of GameStop quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the descending channel. Cancellation of the growth option for GameStop stock quotes will be a fall and a breakdown of the level of 27.25. This will indicate a breakdown of the support area and a continuation of the fall to the area at the level of 23.05. It is worth expecting an acceleration of the rise in shares with a breakdown of the resistance area and closing above the level of 37.05.
GameStop Forecast and Analysis July 29, 2022 suggests the development of a correction and a test of the support area near the level of 31.55. Where should we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 47.85. In favor of the rise of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the GME growth option will be a fall and a breakdown of the level of 27.25. This will indicate a breakdown of support and a continuation of the fall in value to the area below the level of 23.05.
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