GameStop Gaps Higher After Ryan Cohen's RC Ventures Ups Stake: A Technical Analysis
Portfolio Pulse from Melanie Schaffer
GameStop Corporation (NYSE:GME) gapped up 7.82% after Ryan Cohen's RC Ventures increased its stake in the company to 12.1%. The stock faced heavy resistance at $26.55 and started to sell off, potentially forming a bearish double top pattern.
June 13, 2023 | 3:59 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
GameStop's stock price gapped up 7.82% after Ryan Cohen's RC Ventures increased its stake to 12.1%. The stock faced resistance at $26.55 and started to sell off, potentially forming a bearish double top pattern.
The increase in Ryan Cohen's stake in GameStop has led to a short-term increase in the stock price. However, the stock faced resistance at $26.55 and started to sell off, potentially forming a bearish double top pattern. This pattern could lead to further selling pressure, but the overall impact on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100