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Bearish Moving Average Cross by GameStop (GME)

By Shiri Gupta

GameStop (NYSE:GME) crossed under its 10-day moving average of $28.75 on a volume of 2.3 million 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.

GameStop share prices have moved between a 52-week high of $47.83 and a 52-week low of $24.33 and are now trading 16% above that low price at $28.13 per share. The 200-day and 50-day moving averages have moved 0.87% lower and 0.50% higher over the past week, respectively.

SmarTrend is tracking the current trend status for GameStop and will alert subscribers who have GME in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses GameStop

Ticker(s): GME