GameStop quotes continue to move within the correction and the downward channel. The moving averages point to a short-term bearish trend for the GME. Prices are re-tresting the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of the shares is 110.05. As part of the forecast, we should expect an attempt to develop a correction and test the resistance level near the area of 127.55. 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 49.05.
GameStop Forecast and Analysis March 8, 2022
An additional signal in favor of falling 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 quotes will be a strong growth and a breakdown of the level of 155.05. This will indicate a breakdown of the resistance area and a continuation of the rise to the area at the level of 175.05. It is worth expecting an acceleration in the fall of shares with a breakdown of the support area and closing below the level of 70.05, which will indicate a breakdown of the lower border of the “Flag” model.
GameStop Forecast and Analysis March 8, 2022 suggests the development of a correction and a test of the resistance area near the level of 127.55. Where should we expect a rebound and an attempt to continue the fall of the pair to the area below the level of 49.05. In favor of the fall of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the GME reduction option will be a strong growth and a breakdown of the level of 155.05. This will indicate a breakdown of resistance and a continuation of the price rise to the area above the level of 175.05.
