GameStop

  • GME

  • $24

  • +1.00%

  • $24

  • $25

  • $24

Ticker Appearances

Thu, September 28, 2023 | 3:38PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Thu, September 28, 2023 | 3:38PM ET
GME 1.00%  Does Billionaire Ryan Cohen's taking over as CEO of Game Stop mean this stock can turn around? Unfortunately it still looks quite early technically speaking- Earlier strength held exactly near key$18 resistance from its Summer downtrend and has promptly reversed ahead of Thursday's close- I suspect that a test of January lows might be in order technically before much stabilization, and this lies at$15.41. Unfortunately, with no evidence of technical improvement, it makes it hard to weigh on on GME's chances just yet, and this will likely take some time. Over 19.50 on a weekly close is necessary to pique my interest.
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