GameStop Corp (NYSE: GME) operates in offering games and entertainment products through e-commerce platforms or stores. The products witnessed hype by the gaming community once, and since then the brand, GameStop has been the name the gaming community runs to grab on the merch. The community does rely on the brand to get their hands on the limited edition collectibles relating to the beloved games like Hogwarts Legacy and Resident Evil 4.
Last month, Hogwarts Legacy faced some logistical issues due to which the fans were furious and as a result, the stock prices saw downtown. This time the pre-sale of Pokemon Scarlet and Violet Nintendo Switch OLED and plushies, which are available at selected GameStop stores, rolled out with a subtle disclaimer, requesting the awaiting buyers to look for stock updates by February 24.
Other products like Cult of the Lambs, collectibles from Minecraft, Crown Zenith cards set and Super Mario Divas are being brought to the table to make up for the past mishaps. Furthermore, the merch company announced the availability of Metroid Prime Remastered, for the fans to experience the classic again.
The Official Twitter handle of GameStop invited the players to join Kirby on his latest adventures in the game Kirby’s Return to Dream Land Deluxe, pre-order of which is scheduled to roll out on February 24, 2023. Along with that another post notified about the customization of the controls using the new DualSense Edge wireless controller. The company is trying everybit of tricks to bring back the hype to the company.
The recent judgment of the Warzone 2.0 had some impact on the company as well. The game has better graphics than Warzone, but failed to check for the glitch-free experience to the player.
The GME stock prices broke the regression channel and fell. The falling prices took support at $19.00 and rose, after which faced rejection at $22.05. The reverting prices are now planning to test the support near $19.00 again, and if successful, can rise to find a spot near the 200-EMA. The EMA ribbon does not indicate any influence in the prices for the holder to determine the momentum.
The RSI shows neutral pace, floating sideways near the half line. The MACD recently ended the buyer participation, but does not form any distinct cross at the moment. The current action shows weak sellers, who may not last long and can give the market to the buyers of GME.
Conclusion
The GME stock is witnessing a phase filled with trials and errors. The company is trying to keep the gamer community impressed but the over-desperation makes them commit mistakes that put all the efforts in vain. The holders can rely on the support near $19.00.
Technical levels
Support levels: $19.00 and $16.00
Resistance levels: $22.05 and $24.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/02/24/gamestop-corp-nyse-gme-prices-trying-to-welch-the-fans-again/