GameStop Lags AMC Entertainment: Here's Why A Big Reversal Could Be On The Horizon
Portfolio Pulse from Melanie Schaffer
GameStop Corporation (NYSE:GME) was trading higher on Monday, but still lagging behind AMC Entertainment Holdings, Inc. The video game retailer is currently within a falling channel pattern on the daily chart, which is bearish for the short term but could be bullish in the future. The stock has resistance above at $24.03 and at $26.55 and support below at $21.97 and at $20.10.
July 24, 2023 | 7:55 pm
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GameStop's stock is currently in a falling channel pattern, which is bearish in the short term. However, a break up from this pattern could signal a bullish reversal. The stock has resistance at $24.03 and $26.55, and support at $21.97 and $20.10.
The falling channel pattern indicates a bearish trend for GameStop in the short term. However, if the stock breaks up from this pattern, it could signal a bullish reversal. The resistance and support levels provide key price points that could influence the stock's movement.
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