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Watch for Gamestop Corp-A to Potentially Pullback After Gaining 1.57% Yesterday

By James Quinn

Gamestop Corp-A (NYSE:GME) traded in a range yesterday that spanned from a low of $20.98 to a high of $21.58. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $21.43 on volume of 875,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Gamestop Corp-A share prices have moved between a 52-week high of $32.67 and a 52-week low of $20.10 and are now trading 6% above that low price at $21.34 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 recommended that its subscribers protect gains by selling shares of Gamestop Corp-A on January 13th, 2017 by issuing a Downtrend alert when the shares were trading at $22.73. Since that call, shares of Gamestop Corp-A have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders gamestop corp-a

Ticker(s): GME