Nxo
Long

GameStop falling wedge, LONG TERM HOLD

NYSE:GME   GAMESTOP CORPORATION
Gamestop seems to be among the most hated stock out there.
It is tanked so low that is unbelievable. However, what is surprising is that the stock is trading far below its book value and it has a PE ratio of 4 which is also unbelievable. The reason was mostly because the company was not run in an optimal way.

However, that is about to change. New CEO has just been appointed and things are going to become much better for the GAMESTOP.

Plus we are just bouncing off the support line and when we break this wedge we can potentiallly go to 30 USD level without any problems.

RSI on a month chart is saying that we are heavily oversold.

In any case, make sure that this is a very long term trade. It will take a year or two but you will almost triple your money.
Comment: We just broke out of the wedge
thx for the chart, looks very good
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I agree with RSI oversold on the monthly, But i don't understand when you said it found support at this level, What I see, it break support right at 15.57.
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Nxo schery0581
@schery0581, The support was found on this line where we had bounces in 2009, 2010, 2013 and now in 2018. We didnt break out of the wedge yet but its just a matter of time.
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@ on the up side?
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Nxo schery0581
@schery0581, yep, where else? lol
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@Nxo, could be bearish too around 7 buck
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Nxo schery0581
@schery0581, Well could be, but that is really low. f that happens I would sell my house to buy more :P
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@Nxo, selling your house will cost you more. If you know how to protect your investment, you will be fine.
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