• Return to Headlines

Look for Shares of GameStop to Potentially Rebound after Yesterday's 2.39% Sell Off

By Shiri Gupta

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.

Over the past year, GameStop has traded in a range of $20.10 to $47.83 and is now at $24.14, 20% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.5%.

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: rebounders GameStop

Ticker(s): GME