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Shares of Gamestop Corp-A Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Shares of Gamestop Corp-A (NYSE:GME) traded at a new 52-week low today of $3.26. Approximately 1.2 million shares have changed hands today, as compared to an average 30-day volume of 6.3 million shares.

Gamestop Corp-A share prices have moved between a 52-week high of $17.27 and the current low of $3.26 and are currently at $3.26 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has declined 4.8%.

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.

Gamestop Corp-A has overhead space with shares priced $3.26, or 78.6% below the average consensus analyst price target of $15.22. The stock should find initial resistance at its 50-day moving average (MA) of $4.83 and further resistance at its 200-day MA of $9.99.

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 70.6%. 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