{"id":135079,"date":"2024-12-09T12:44:25","date_gmt":"2024-12-09T05:44:25","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=135079"},"modified":"2024-12-09T12:44:25","modified_gmt":"2024-12-09T05:44:25","slug":"watch-these-gamestop-price-levels-after-roaring-kitty-post-ahead-of-earnings-report","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=135079","title":{"rendered":"Watch These GameStop Price Levels After &#8216;Roaring Kitty&#8217; Post Ahead Of Earnings Report"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"mntl-sc-page_1-0\" data-sc-sticky-offset=\"80\" data-sc-ad-label-height=\"0\" data-sc-ad-track-spacing=\"90\" data-sc-min-track-height=\"250\" data-sc-max-track-height=\"600\" data-sc-breakpoint=\"50em\" data-sc-load-immediate=\"1\" data-sc-content-positions=\"[300, 1, 1, 1250, 1, 1, 1, 1]\" data-bind-scroll-on-start=\"true\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_2-0\" class=\"comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\">Key Takeaways<\/h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li>GameStop shares will likely remain in the spotlight on Monday ahead of the video game retailer\u2019s eagerly anticipated earnings report on Tuesday and recent meme-driven trading activity.\u00a0<\/li>\n<li>The stock&#8217;s price formed a bullish engulfing pattern following a minor pullback on above average-trading volume.<\/li>\n<li>Investors should watch key overhead price areas on GameStop&#8217;s chart around $31 and $40.50, while also monitoring important support levels near $23 and $19.50.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p id=\"mntl-sc-block_3-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> GameStop (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=gme\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">GME<\/a>) shares will likely remain in the spotlight on Monday ahead of the video game retailer\u2019s eagerly anticipated earnings report due after the bell on Tuesday, especially following a post from social media influencer \u201c<a href=\"https:\/\/www.investopedia.com\/keith-gill-roaring-kitty-8303143\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">Roaring Kitty<\/a>\u201d Keith Gill that <a href=\"https:\/\/www.investopedia.com\/gamestop-earnings-tuesday-numbers-arent-always-whole-story-8757520\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">sent the stock soaring last week<\/a>.<span class=\"ql-inline-citation\" data-cite=\"1\"\/>\n<\/p>\n<p id=\"mntl-sc-block_5-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> On Friday, investment firm Wedbush reiterated its \u201c<a href=\"https:\/\/www.investopedia.com\/terms\/u\/underperform.asp#:~:text=In%20a%20down%20market%2C%20a,%22%20or%20%22weak%20hold.%22\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">underperform<\/a>\u201d rating and $10 price target on GameStop shares, noting the <a href=\"https:\/\/www.investopedia.com\/terms\/b\/brickandmortar.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">brick-and-mortar<\/a> company\u2019s planned return to growth faces insurmountable barriers amid a shift to digital commerce and games streaming.\n<\/p>\n<p id=\"mntl-sc-block_7-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Shares in GameStop have surged more than 65% since the start of the year through Friday\u2019s close, with most of those gains coming in May and June after Gill posted several times about the retailer for the first time since a pandemic-era <a href=\"https:\/\/www.investopedia.com\/investing-in-meme-stocks-8663954#:~:text=Key%20Takeaways,the%20risk%20of%20significant%20losses.\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">meme trading frenzy<\/a> gripped the stock in late 2020 and early 2021.\n<\/p>\n<p id=\"mntl-sc-block_9-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Below, we break down the <a href=\"https:\/\/www.investopedia.com\/terms\/t\/technicalanalysis.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">technicals<\/a> on GameStop\u2019s chart and identify several important price levels to watch amid the video gamer seller\u2019s looming quarterly results.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-bullish-engulfing-pattern-after-pullback\"\/><\/p>\n<h2 id=\"mntl-sc-block_11-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Bullish Engulfing Pattern After Pullback <\/span> <\/h2>\n<p id=\"mntl-sc-block_12-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Since breaking out from a <a href=\"https:\/\/www.investopedia.com\/terms\/d\/descendingtriangle.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">descending triangle<\/a> formation in late October, GameStop shares have continued to trend higher.\n<\/p>\n<p id=\"mntl-sc-block_14-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> More recently, the price formed a <a href=\"https:\/\/www.investopedia.com\/terms\/b\/bullishengulfingpattern.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">bullish engulfing pattern<\/a> following a minor <a href=\"https:\/\/www.investopedia.com\/articles\/active-trading\/020415\/top-strategies-mastering-pullback-trading.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">pullback<\/a> on above average-<a href=\"https:\/\/www.investopedia.com\/ask\/answers\/041015\/why-trading-volume-important-investors.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">trading volume<\/a> ahead of the retailer\u2019s quarterly report.\n<\/p>\n<p id=\"mntl-sc-block_16-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> The <a href=\"https:\/\/www.investopedia.com\/terms\/r\/rsi.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">relative strength index (RSI)<\/a> confirms positive price <a href=\"https:\/\/www.investopedia.com\/terms\/m\/momentum.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">momentum<\/a> with a reading above 60, but remains below <a href=\"https:\/\/www.investopedia.com\/terms\/o\/overbought.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">overbought<\/a> territory, giving the stock ample room a rally further.\n<\/p>\n<p id=\"mntl-sc-block_18-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Let\u2019s identify several key overhead areas on GameStop\u2019s chart to watch and also point out a couple of important <a href=\"https:\/\/www.investopedia.com\/terms\/s\/support.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">support levels<\/a> that may come into play during retracements.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-key-overhead-price-areas-to-watch\"\/><\/p>\n<h2 id=\"mntl-sc-block_20-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Key Overhead Price Areas to Watch <\/span> <\/h2>\n<p id=\"mntl-sc-block_21-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> An initial move higher could see the shares test key overhead <a href=\"https:\/\/www.investopedia.com\/terms\/r\/resistance.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">resistance<\/a> around $31, a level where they may face selling pressure near a trendline that connects last month\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/s\/swinghigh.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">swing high<\/a> with a range of comparable to price points during the meme-driven <a href=\"https:\/\/www.investopedia.com\/ask\/answers\/021015\/what-best-measure-given-stocks-volatility.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">volatility<\/a> throughout May and June.\n<\/p>\n<p id=\"mntl-sc-block_23-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> A decisive <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/08\/trading-breakouts.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">breakout<\/a> above that price may fuel a rally up to the $40.50 level. Investors and traders who have purchased the stock at lower prices may look to offload shares around those prices.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-important-support-levels-to-monitor\"\/><\/p>\n<h2 id=\"mntl-sc-block_25-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Important Support Levels to Monitor <\/span> <\/h2>\n<p id=\"mntl-sc-block_26-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Amid retracements in the stock, investors should keep a close eye on the $23 level. GameStop <a href=\"https:\/\/www.investopedia.com\/terms\/b\/bull.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">bulls<\/a> could seek buying opportunities in this region near multiple <a href=\"https:\/\/www.investopedia.com\/trading\/peak-and-trough-analysis\/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">peaks and troughs<\/a> that emerged on the chart from May to October.\n<\/p>\n<p id=\"mntl-sc-block_28-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Selling below this level opens the door for a fall to around $19.50. This level on the chart would likely attract buying interest near an important <a href=\"https:\/\/www.investopedia.com\/terms\/h\/horizontal-line.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">horizontal line<\/a> that links the September 2023 <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/10\/trend-following-countertrend.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">countertrend<\/a> high and several <a href=\"https:\/\/www.investopedia.com\/terms\/s\/swinglow.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">swing lows<\/a> that formed between May and September.\n<\/p>\n<p id=\"mntl-sc-block_30-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our\u00a0<a href=\"https:\/\/www.investopedia.com\/legal-4768893#toc-warranty-and-liability-disclaimer\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">warranty and liability disclaimer<\/a>\u00a0for more info.<\/em>\n<\/p>\n<p id=\"mntl-sc-block_32-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>As of the date this article was written, the author does not own any of the above securities.<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.investopedia.com\/watch-these-gamestop-price-levels-after-roaring-kitty-post-ahead-of-earnings-report-8758030\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways GameStop shares will likely remain in the spotlight on Monday ahead of the video game retailer\u2019s eagerly anticipated earnings report on Tuesday and recent meme-driven trading activity.\u00a0 The &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=135079\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-135079","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135079"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135079\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}