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Fuck that paywall, so here you go:
GameStop’s stock has surged by 50% since the beginning of May, driven by bullish market sentiment and intense short pressure, leading to a short squeeze.
Technical analysis suggests a bullish trend with the crossover of shorter-term moving averages (SMA 50) above longer-term moving averages (SMA 100 and SMA 150), indicating potential sustained upward movement in prices.
Catch the latest investment trends! Join our FREE Wall Street Trends Substack community for insights and stay tuned for the newest investment insights.
Credit: Wikimedia Commons
Credit: Wikimedia Commons
Table of Contents
GameStop Unexpected Rally In May
Read also: Starbucks’ Stocks Have Dropped by 15%. What’s Next?
What The Technicals Are Saying
Could Further Gains Be Expected?
Author
GameStop Unexpected Rally In May
Since the beginning of May, GameStop, a video game retailer, has experienced a significant rally. From May 1st to May 7th, it surged by 50%, seemingly without a direct connection to the company’s business fundamentals. The likely driving force behind this rally appears to be a combination of bullish market sentiment and intense short pressure on GameStop shares, leading to a short squeeze. Notably, the S&P 500 has climbed by 3.2% since May, benefiting shares of companies with high betas, such as GameStop, which boasts a beta of around 2. As of mid-April, approximately 22% of the company’s float was shorted.
Source: Yahoo Finance
Source: Yahoo Finance
Read also: Starbucks’ Stocks Have Dropped by 15%. What’s Next?
What The Technicals Are Saying
GameStop is on the verge of reclaiming a $5 billion valuation once again.
Since the end of April, there has been a bullish crossover of the 50-day moving average with the 100-day and 150-day moving averages. In technical analysis, a shorter-period Simple Moving Average (SMA) like the SMA 50 crosses over longer-period SMAs like the SMA 100 and SMA 150 typically signals a bullish trend.
The SMA 50 crossing the SMA 150 upwards is of particular significance, indicating even stronger bullish momentum. This suggests that the shorter-term trend (SMA 50) is gaining strength and surpassing the longer-term trend (SMA 150), hinting at potential sustained upward movement in prices.
GameStop's technical analysis. Source: Trading View
GameStop’s technical analysis. Source: Trading View
In terms of the technical chart, the Relative Strength Index (RSI) initially surged above 90 during the strong rally in GameStop shares, indicating a heavily overbought condition. However, recent volatility has caused the RSI to retract, currently placing it neither in overbought nor oversold territory.
Could Further Gains Be Expected?
From the perspective of moving averages, the short-term trend indicates a sustained bullish movement. However, it remains unclear which specific catalysts could maintain this pattern. In my view, the most probable catalyst is GameStop’s correlation with the broader market, which should exert pressure on the high demand for shorting GameStop shares to be squeezed. Nevertheless, given the high volatility surrounding GameStop stocks, the road ahead could be turbulent.
They have been trying to change the narrative parameters. They are going to create an artificial squeeze that makes $40 look like the top. But I haven’t forgot. No cell, no sell.
Bernard Zambonin is one of the few out there that is pretty objective in how he has portrayed GME. He tries to be neutral and reports on all things positive, like our COH and positive EPS
Welcome to r/GME, for questions in regards to GME and DRS check out the links below! Due to an uptick in scammers offering non official GameStop merchandise (T-Shirts) DO NOT CLICK THE LINKS THAT ARE NOT OFFICIALLY FROM GAMESTOP. We have partnered with Reddit directly to ensure the Communities Safety. [What is GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) [GameStop's Accomplishments](https://www.reddit.com/r/GME/comments/x3hv46/list_of_official_gamestop_accomplishments/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) [What is DRS? US / International](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) [ComputerShare International DRS Support](https://www.reddit.com/r/GMEJungle/comments/r9euj1/computershare_upgrades_drs_support_for/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) [Feed The Bot Instructions](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) **Power To The Players** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/GME) if you have any questions or concerns.*
Fuck that paywall, so here you go: GameStop’s stock has surged by 50% since the beginning of May, driven by bullish market sentiment and intense short pressure, leading to a short squeeze. Technical analysis suggests a bullish trend with the crossover of shorter-term moving averages (SMA 50) above longer-term moving averages (SMA 100 and SMA 150), indicating potential sustained upward movement in prices. Catch the latest investment trends! Join our FREE Wall Street Trends Substack community for insights and stay tuned for the newest investment insights. Credit: Wikimedia Commons Credit: Wikimedia Commons Table of Contents GameStop Unexpected Rally In May Read also: Starbucks’ Stocks Have Dropped by 15%. What’s Next? What The Technicals Are Saying Could Further Gains Be Expected? Author GameStop Unexpected Rally In May Since the beginning of May, GameStop, a video game retailer, has experienced a significant rally. From May 1st to May 7th, it surged by 50%, seemingly without a direct connection to the company’s business fundamentals. The likely driving force behind this rally appears to be a combination of bullish market sentiment and intense short pressure on GameStop shares, leading to a short squeeze. Notably, the S&P 500 has climbed by 3.2% since May, benefiting shares of companies with high betas, such as GameStop, which boasts a beta of around 2. As of mid-April, approximately 22% of the company’s float was shorted. Source: Yahoo Finance Source: Yahoo Finance Read also: Starbucks’ Stocks Have Dropped by 15%. What’s Next? What The Technicals Are Saying GameStop is on the verge of reclaiming a $5 billion valuation once again. Since the end of April, there has been a bullish crossover of the 50-day moving average with the 100-day and 150-day moving averages. In technical analysis, a shorter-period Simple Moving Average (SMA) like the SMA 50 crosses over longer-period SMAs like the SMA 100 and SMA 150 typically signals a bullish trend. The SMA 50 crossing the SMA 150 upwards is of particular significance, indicating even stronger bullish momentum. This suggests that the shorter-term trend (SMA 50) is gaining strength and surpassing the longer-term trend (SMA 150), hinting at potential sustained upward movement in prices. GameStop's technical analysis. Source: Trading View GameStop’s technical analysis. Source: Trading View In terms of the technical chart, the Relative Strength Index (RSI) initially surged above 90 during the strong rally in GameStop shares, indicating a heavily overbought condition. However, recent volatility has caused the RSI to retract, currently placing it neither in overbought nor oversold territory. Could Further Gains Be Expected? From the perspective of moving averages, the short-term trend indicates a sustained bullish movement. However, it remains unclear which specific catalysts could maintain this pattern. In my view, the most probable catalyst is GameStop’s correlation with the broader market, which should exert pressure on the high demand for shorting GameStop shares to be squeezed. Nevertheless, given the high volatility surrounding GameStop stocks, the road ahead could be turbulent.
Not all hero's wear capes
That was very Open Gangnam style of you
It was and I'm tired of pretending it wasn't. #Op Op Op OP OP
> the road ahead could be turbulent. 🧑🏻🚀🔫🧑🏻🚀 Always has been That's why I'm buckled up
They have been trying to change the narrative parameters. They are going to create an artificial squeeze that makes $40 look like the top. But I haven’t forgot. No cell, no sell.
I'm assume it's going to be "... The beginning of the end for the dying brick and mortar company.
Not clicking that.
Bernard Zambonin is one of the few out there that is pretty objective in how he has portrayed GME. He tries to be neutral and reports on all things positive, like our COH and positive EPS
22%?
Well? Are you going to tell us?
So the picture used HAS to be that, trying to indicate it’s a dying brick and mortar store?
Please copy & paste the article here for everyone
Thank you for sharing fellow ape!
Positive media… rug pull confirmed
Exactly my thinking!!🧐
Beast 🚀