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Bearish Moving Average Cross by Gamestop Corp-A (GME)

By Shiri Gupta

Today, shares of Gamestop Corp-A (NYSE:GME) have crossed bearishly below their 10-day moving average of $8.81 on a volume of 355K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Gamestop Corp-A has traded in a range of $8.47 to $17.27 and is now at $8.69, 3% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Gamestop Corp-A on January 29th, 2019 by issuing a Downtrend alert when the shares were trading at $11.81. Since that call, shares of Gamestop Corp-A have fallen 24.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses gamestop corp-a

Ticker(s): GME