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GameStop Falls 2.39% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

GameStop (NYSE:GME) traded in a range yesterday that spanned from a low of $24.00 to a high of $24.84. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $24.04 on volume of 2.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

GameStop share prices have moved between a 52-week high of $47.83 and a 52-week low of $20.10 and are now trading 20% above that low price at $24.14 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.9%.

Keywords: rebounders GameStop

Ticker(s): GME