- GameStop Corp. stocks has gained around 14% today as buyers showing the potential in GME stock price.
- GME share price recovered above 20 and 50-EMA in a single day while thriving for 100 and 200-days Daily Moving Average.
- GameStop Corp. (NYSE: GME) is trying to recover itself from the lower levels over the daily time frame chart.
GameStop Corp. share price has finally gotten up from $20 after getting support from the lower price range. GME stock price needs to maintain the current accumulation rate for the stock price to surge significantly over the daily time frame chart. Meanwhile, buyers are trying to fuel up the GME share price to skyrocket. However, GME share price has been slipping after skipping the consolidation phase in December 2022. Analysts speculate GME share price to soar maximum in 2023 with significant recovery over the charts. GME share price has recovered around 22% year to date.
GME stock price was at $22.82 and has gained 14% of its market capitalization during the day’s trading session. Trading volume has soared above average showcasing the accumulation rate of buyers during the intraday trading session.
GME stock price has finally adapted strong uptrend momentum over the daily time frame chart. GME shares have been rising with strong potential to recover during 2023. Many analysts from different financial organizations claim GME share price to recover itself above $30 by mid 2023.
Volume has soared above average showing the accumulation rate of buyers during the day’s trading session. However, GME share price recovered above 20 and 50-EMA in a single day while thriving at 100 and 200-days Daily Moving Average.
Will GME Stock Price Recover Itself above $30?
GME stock price has been trying to recover itself over the daily time frame chart. Technical indicators suggest strong uptrend momentum over the daily time frame chart. Relative Strength Index showcases the upside momentum of GME share price. RSI is at 59 and is moving towards overbought territory. MACD exhibits uptrend momentum of GME share price. The MACD line is ahead of the signal line showcasing that buyers are pushing their limit.
Summary
GameStop Corp. share price has finally gotten up from $20 after getting support from the lower price range. GME share price needs to maintain the current accumulation rate for the stock price to surge significantly over the daily time frame chart. Many analysts from different financial organizations claim GME stock price to recover itself above $30 by mid 2023. Technical indicators suggest strong uptrend momentum over the daily time frame chart. Investors in GameStop Corp. need to wait until the GME share price breaks out of the $24 resistance level.
Technical Levels
Support Levels: $19.00 and $17.00
Resistance Levels: $24.00 and $30.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/28/why-is-gamestop-corp-nyse-gme-gme-stock-price-up-by-14-today/