GME continue to move within the fall. Moving averages indicate a short-term bullish trend in GameStop. However, prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the securities. At the time of publication of the forecast, the share price is 72.27. As part of the forecast for the value of GME shares, we should consider an attempt to develop growth and test the resistance level near the 91.05 area. Further, the rebound and the continuation of the fall in the value of securities. The potential target of such a movement is the area below the level of 30.00.
GameStop Forecast and GME Analysis February 5, 2021
An additional signal in favor of reducing GameStop quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option of falling GME stock prices will be strong growth and a breakdown of the level of 145.00. This will indicate a breakdown of the resistance area and continued growth to the area at 205.00. Expect an acceleration in the fall of shares with a breakdown of the support area and closing prices below 60.55.
GameStop Forecast and GME Analysis February 5, 2021 suggests the development of a correction and a test of the resistance area near the level of 91.05. Where can we expect a rebound and an attempt to continue the fall of the stock to the area below the level of 30.00. A test of the trend line on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option of falling GME shares will be strong growth and a breakdown of the level of 145.00. This will indicate a breakdown of resistance and a continued rise in value to the area above the level of 205.00.
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