Watch These GameStop Price Levels After ‘Roaring Kitty’ Post Ahead Of Earnings Report | Global News Avenue

Game Stop(Society of General Mechanical Engineers) Monday, ahead of the video game retailer’s hotly anticipated earnings report due after the bell on Tuesday, the stock will likely remain in the spotlight, especially following posts from social media influencers.growling kitten” Keith Gill The stock price soared last week.

On Friday, investment firm Wedbush reiterated that “poor performance” rating and $10 price target on GameStop stock, noting physical The company’s plans to return to growth face insurmountable obstacles as it transitions to digital commerce and game streaming.

GameStop shares have soared more than 65% since the start of the year through Friday’s close, with much of the gains occurring in May and June after Gill repeatedly posted about the retailer for the first time since the pandemic era Meme Trading Frenzy Hold the stock in late 2020 and early 2021.

Next, let’s break it down technical On GameStop’s chart, identify a few important price levels to watch during the video game player seller’s upcoming quarterly results.

Bullish Engulfing Pattern After Pullback

since from a descending triangle In late October, GameStop stock prices continued to rise.

Recently, prices have formed bullish engulfing pattern following minors pull back Above average –trading volume before the retailer releases its quarterly report.

this Relative Strength Index (RSI) Confirm full price momentum Readings above 60, but still below overbought area, providing ample room for the stock to rise further.

Let’s identify a few key spending areas to watch on the GameStop chart and point out some important things support level This may come into play during a pullback.

Key Overhead Pricing Areas to Watch

An initial move higher could lead to the stock testing key overheads resist Around $31, near the trendline connecting last month, they may be facing selling pressure high swing Featuring a range of comparable price points during a meme-driven period volatility Throughout May and June.

a decisive breakthrough Above this price could push a rebound towards $40.50 levels. Investors and traders who purchased the stock at a lower price may consider selling the stock near these prices.

Important support levels to monitor

Investors should keep a close eye on the $23 level during the stock’s pullback. game station bull May look for buying opportunities in multiple areas around the area crests and troughs Appears on the chart from May to October.

Selling below that level opens the door for a drop to around $19.50. This level on the chart could attract buying interest near important key points horizontal line Link September 2023 Contrary to the trend Higher level swing lows Formed between May and September.

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As of the date of this writing, the author did not own any of the securities mentioned.