GameStop stock: buy or sell
Aug 1st, 2021
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
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)
Supports and resistances
The current resistance levels are:
The current supports are:
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
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%
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 $24,864.20 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for GameStop stock
Nobody knows how much a stock will be priced in the future. Banks and financial organisations issue their analysis predicting how a stock will performance in the future.
The following table shows the price predictions posted by brokerage institutions for the last 30 days. If you are a small trader you don't have to trade based on these predictions.
We don't have any target price posted in the previous 30 days for GameStop.
Earnings and financials
GameStop ($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 $-0.45 that was reported for Q1.
GameStop is classified inside the Specialty Retail industry, which contain industry peers.
The following are GameStop major competitors:
|Company||Market cap||Rating||Bullish ratings1|
|Best Buy ($BBY)||$28.1B||Neutral||0|
1 In the last 30 days.
To better understand GameStop performance you must compare its gains with other related stocks in same sector or industry.. For GameStop, the benchmark is made against Apple, AT&T and Best Buy.
|Best Buy ($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
|Friday, July 30th, 2021|
|Day range||$158.87 - $167.22|
|Average true range||$16.10|
|50d mov avg||$210.22|
|100d mov avg||$193.33|
|200d mov avg||$119.95|
|Earnings date||September 7th, 2021|