GameStop stock: buy or sell

GME stock price: $161.12 -2.27% At close on Jul 30th, 2021

Updated on:
Aug 1st, 2021

1

GameStop stock brief

  • Counting on Friday, it's been 4 consecutive sessions in red for GameStop. Price closed on Friday at $161.12 after falling a -2.27%.
  • From the chart point view, price is drawing a scaled uptrend since July 2020 with higher tops and higher bottoms. Up to date, price made a 4,173.74% gain since the beginning of this rally
  • GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe.

Should I buy GameStop stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $GME stock a buy?

In the current situation of GameStop there is not any eligible buy setup. This doesn't mean $GME will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell GameStop stock?

How to know when is it time to sell GameStop stock?. Trading strategies let us to avoid rash decisions based on our emotions or the noise surrounding the market. We like very simple setups to guide us on when is the best moment to sell our shares. Be aware that these setups are not intended for selling short GameStop stock

A golden rule is that you should not hold a trading operation that shows a higher than expected losses by the time of the buy. When to sell your stock should always be ruled by the stop-loss (automatic or manual)

Is it time to sell GameStop stock?

Currently, GameStop stock doesn't match any of our preferred sell setups, so if you hold GameStop shares and your operation is in profit probably is not time to sell now

GameStop ratings

In the last month we couldn't find any rating for GameStop

GameStop stock analysis

GameStop stock started an uptrend in July 2020, and grew a gorgeous 4,173.74%. The price line shows higher peaks and higher lows, and along the way gave some buying opportunities for those who wanted to trade in. Latest low was last May, when price bounced at $136.50. Now, the price moves in a consolidation between its last top ($344.66) and its last bottom ($136.50)

SMAs overview

GME stock SMAs chart

Supports and resistances

The current resistance levels are:

  • R1: $188.00 (16.68% above)
  • R2: $344.66 (113.92% above)
  • R3: $348.50 (116.30% above)
  • The current supports are:

  • S1: $136.50 (-15.28% below)
  • S2: $116.90 (-27.45% below)
  • S3: $41.36 (-74.33% below)
  • Bollinger bands

    The price is trading very close to the lower Bollinger band, signaling some level of oversold in recent sessions. This is not a bullish indicator, as price can move in these levels for many days and weeks

    GME stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 last June after just crossing to the overbough zone for just one day (weak signal). The RSI reading on Friday was 35.32. Since that level was lost, GameStop shares collapsed a 46.75%

    GME stock RSI chart

    GameStop stock price history

    GameStop started trading on Feb 13th, 2002 at $6.48 per share1. Since then, GME stock surged by 2,386.42%, with an average of 125.60% per year. If you had invested $1,000USD in GameStop stock on Feb 2002, it would have a value of $24,864.20 today.

    1: Adjusted price after possible price splits or reverse-splits

    GME stock price history chart

    Price target for GameStop stock

    Nobody knows how much a stock will be priced in the future. Banks and financial organisations issue their analysis predicting how a stock will performance in the future.

    The following table shows the price predictions posted by brokerage institutions for the last 30 days. If you are a small trader you don't have to trade based on these predictions.

    We don't have any target price posted in the previous 30 days for GameStop.

    Earnings and financials

    GameStop ($GME) hosted the quarterly investors event and posted the report last June. GameStop surpassed analysts estimates and presented of $-0.45, that is a 45.78% surprise compared to the previous forecasts of $-0.83. In line, reported sales were $1.3 billion compared to estimates of $1.2 billion.

    This compares to Earnings of $-1.61 per share a year ago, so reported EPS is a gain of 72.05%. Revenue exploded a 25.05% on an annualized basis in the , from $10.2B to $12.8B last quarter.

    GameStop ($GME) is presenting Q2 financial report early next September. Expected for this quarter is $-0.66, compared to $-0.45 that was reported for Q1.

    GameStop competitors

    GameStop is classified inside the Specialty Retail industry, which contain industry peers.

    The following are GameStop major competitors:

    GameStop competitors
    CompanyMarket capRatingBullish ratings1
    GameStop ($GME) $13.6B
    Apple ($AAPL) $2.0T Neutral 0
    AT&T ($T) $214.7B Neutral 0
    Best Buy ($BBY) $28.1B Neutral 0

    1 In the last 30 days.

    GameStop performance

    To better understand GameStop performance you must compare its gains with other related stocks in same sector or industry.. For GameStop, the benchmark is made against Apple, AT&T and Best Buy.

    GME performance compared
    Company1m3m6m
    GameStop ($GME) -24.50% -9.20% -49.10%
    Apple ($AAPL) 6.80% 10.70% 9.40%
    AT&T ($T) -1.10% -10.10% 0.40%
    Best Buy ($BBY) -2.80% -3.70% 3.90%

    Disclaimer:
    The viewpoints contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this text does not have an understanding of the specific conditions of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are published for general educational motives only

    GameStop summary

    Friday, July 30th, 2021
    Open$165
    Close$161.12
    Day range$158.87 - $167.22
    Previous close$164.86
    Session gain-2.27%
    Average true range$16.10
    50d mov avg$210.22
    100d mov avg$193.33
    200d mov avg$119.95
    Earnings dateSeptember 7th, 2021

    Frequently asked questions

    What is GameStop stock symbol?

    GameStop Corp. is a public company trading in the US stock market with the GME symbol

    Is GameStop stock a buy or sell?

    GameStop had no ratings in the last 4 weeks Read the article to get additional tips on trading GME stock.

    Will GME go up?

    There were no predictions published by market analysts in the last month for GameStop.