GAMESTOP STOCK: Price ANALYSIS (GME STOCK PRICE)

here we have the current stock market analysis for GameStop Corporation stock ticker gme before we begin with today's chart analysis if you find these educational materials to be helpful in your trading please remember to click the like And subscribe buttons and leave your thoughts Below in the comment section so that other Traders will be able to find this information more easily on the platform so here we have the 1hour price chart each candle on this price chart represents a one hour trading period and we can see that share prices are making an attempt to to uh build a recovery here uh from the lows that were generated right near $19.31 so this has been obviously a substantial movement lower we have seen sign significant price gaps in the process and then in addition to that we're also starting to see evidence that a fall breakout occurred above the $25 Mark so when you start to see breaks of resistance like this to the top side and this is what we saw here previously the prior High came in at $246 and then this near-term High came in at 251 I should probably mark this on the price chart here 2501 so as we can see here the share price itself did manage to post some higher highs here so we do need to go over this price chart and outline some specific price zones here here uh because uh we do need to identify where and when it would be possible for the stock to start to Stage some sort of recovery uh the destruction in share prices to the downside has been massive at this point um you know we're coming in right in right into to another period of time where many people on this platform were saying that we were going to the moon and the short squeeze was coming and all this uh we did see a series of wave movements higher here uh but ultimately what unfolded there uh for people that are actual experts in technical analysis would be uh you know evidence that a harmonic pattern did start to unfold right at this level uh and that this breakout above the $25 Mark was not actually sustainable so the price wave that followed here could have been could have been seen in advance um and uh the share price Gap that has unfolded now to the downside um is quite ominous and the the real question here is what will it take for share prices to start to uh you know build a recovery here and and possibly fill this price Gap So currently what we're looking at here uh would be uh the the bottom of the price Gap coming in uh right around $21 per share uh at the time I'm recording this we're trading at $284 uh of course we're coming into the Friday close here so this will be a weekly close at this point this is going to be a fairly critical close here because uh if we fail to close above that $21 Mark uh it will be significant because there is still then a possibility that this price Gap does not get filled uh I mean the way way that a price Gap H would would need to be filled a way the way for this to occur uh would be for share prices to uh start to enter back into this price region uh the reason price gaps are filled is because there's a huge number of orders you know the Market's a big place there are buy and sell orders on both sides of the market all the time uh and presumably even with a with a stock like GameStop there are going to be orders that are parked here with throughout this region uh that will ultimately need to be filled at some point um however share prices never venture back into that territory or at least don't do it anytime soon uh you know the likelihood that those that those orders are actually filled starts to diminish so ideally what you would like to see here would be a weekly close Above This $21 level if we could start to see some price movement in that direction then you can start to bank on the possibility that this uh that this total price Gap would be filled if that were to occur uh you'd be looking at share prices moving back into the 2320 Zone uh which does not start to look you know which does not look as bad uh as share price is trading you know in the lower 19s or something like that so um you know the the weekly close here is going to be pretty important because it's going to sort of determine uh the outlook for the next week if we are able to break above $21 it's possible then that you could see a fresh wave of upside momentum sort of some free free momentum uh that would be generated by this share price Gap that did occur to the downside but as things currently stand what you have here is a resistance Zone a historical resistance Zone that's coming right into contact with this area and then in addition to that this is the hourly price chart so you've got this declining yellow line here that would be the 20-hour exponential moving average so these are sort of coinciding here pretty uh closely at the moment so you do need to overcome this level if you're able to overcome that level you you you uh you break the historical resistance Zone uh you're managing to trade back inside of the exponential moving average cluster and then you have the possibility that this price Gap starts to be filled to the top side uh but if we see a weekly close below this area um and you know lack of share price movement here into the into the end of the week uh there is then nothing to suggest that share prices will have the ability uh to uh you know generate the momentum that would be required then to fill this price Gap so uh you know we're actually trading at fairly critical levels at the moment here um and it is it is going to be important for share prices to sort of uh to make an entrance here back into this exponential moving average cluster because at least that starts to take pressure off of the downside of course this this pressure to the downside was largely created by this break of Prior support which came in at $19.88 so at the way things currently stand you have to remain focused on the downside until you start to see some evidence that share price movement uh is starting to move in the positive direction if we look at the indicator reading here uh the recent upside price movement has clearly broken to the downside you did see share prices start to bounce out out of uh over oversold territory and then in addition to that you can make the argument here that there is a a bit of a bullish Divergence here that is starting to form at these levels uh because share prices did move into new lows at 1931 which was a lower low than the 1988 uh but what we're seeing here um is a positive uh indicator signal here uh because the indicator itself did not form lower lows on its own so if the if the indicator is feeling to confirm these lower price levels you do have a bit of a bit of a positive argument that can be made there uh because the indicator reading is not confirming these lows so the way things currently stand the the main level to watch in my opinion is this $21 level if you're able to break above there um you know you do have some resistance that would be expected right around this 2166 prior low uh you have to remember uh prior areas of of support turn into resistance when they're tested from the downside and then in addition to that you do have this declining 50 period uh exponential moving average that's the 50-hour exponential moving average uh on this time frame so those are both coinciding with roughly the same area here um you know it's possible that you could start to see some some resistance into 2166 but I I I am I am uh looking mostly at this $21 level at the moment because I do think that that if you are able to break above here and see a close above that area um then the argument for some you know some sort of free momentum let's call it uh to the top side could start to be generated based on the fact that there is a massive price Gap here um that could start to be filled if we enter back into that region so here's the current stock market update for GameStop Corporation stock ticker gme our high value trading strategies 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