GameStop Stock Chart Illustrates Trading Lesson - GameStop (NYSE:GME)

Benzinga

2024-06-25 22:30

Market gurus come and go, but market principles never change. A look at how the GameStop chart shows a technical lesson.

　　The same type of price action also took place around the important $48 level.

　　The level was first resistance in March 2022. Then it was resistance again in August 2022.

　　On June 6 of this year, the stock took off again because of Roaring Kitty and the Reddit community. It ran into resistance around $43 and reversed again.

　　The Last Word: The term “market memory” refers to the fact that an important price level can retain its importance for a long time, for months or even years.

　　Sometimes traders have profitable positions but they have a difficult time determining a sell target. It would be logical to consider having it at a price that had previously been a peak or top.

　　GME Price Action: GameStop shares were trading 1.3% lower Tuesday at $23.34.

　　Photo via Shutterstock.

Disclaimer:The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

Latest News

Promoting the development of lithium and sodium in the new energy industry