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Gamestop Corp-A Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Shares of Gamestop Corp-A (NYSE:GME) traded today at $8.28, breaking its 52-week low. This new low was reached on below average trading volume as 152,000 shares traded hands, while the average 30-day volume is approximately 4.6 million shares.

In the past 52 weeks, shares of Gamestop Corp-A have traded between the current low of $8.28 and a high of $17.27 and are now at $8.28. The 200-day and 50-day moving averages have moved 1.16% lower and 2.86% lower over the past week, respectively.

Gamestop Corp-A (NYSE:GME) has potential upside of 83.8% based on a current price of $8.28 and analysts' consensus price target of $15.22. The stock should run into initial resistance at its 50-day moving average (MA) of $9.92 and subsequent resistance at its 200-day MA of $13.17.

GameStop Corporation operates specialty electronic game and PC entertainment software stores throughout the United States, Australia, Canada, and Europe. The Company stores sell new and used video game hardware, video game software, and accessories, as well as PC entertainment software and related accessories and other merchandise.

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 28.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows gamestop corp-a

Ticker(s): GME