EBITDAtiger

Gamestop RSI at a decent level with good support to retest highs

Long
NYSE:GME   GameStop
The 50-day MA did cross below the 20-day MA at the same time as RSI was above 70, leading to a sell-off after testing the 18.20 level. It looks like the stock is regrouping and preparing to retest that 18.20 resistance level, and if it can break through it and hold; the stock should trade into the 20s as the holiday season is around the corner. Their focus on E-sports and ability to capitalize on trade-ins of old gen consoles and games for new-gen consoles and games is a strong tailwind.

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