Gamestop seems to be among the most hated stock out there.
It is tanked so low that is unbelievable. However, what is surprising is that the stock is trading far below its book value and it has a PE ratio of 4 which is also unbelievable. The reason was mostly because the company was not run in an optimal way.
However, that is about to change. New CEO has just been appointed and things are going to become much better for the GAMESTOP.
Plus we are just bouncing off the support line and when we break this wedge we can potentiallly go to 30 USD level without any problems.
RSI on a month chart is saying that we are heavily oversold.
In any case, make sure that this is a very long term trade. It will take a year or two but you will almost triple your money.
It is tanked so low that is unbelievable. However, what is surprising is that the stock is trading far below its book value and it has a PE ratio of 4 which is also unbelievable. The reason was mostly because the company was not run in an optimal way.
However, that is about to change. New CEO has just been appointed and things are going to become much better for the GAMESTOP.
Plus we are just bouncing off the support line and when we break this wedge we can potentiallly go to 30 USD level without any problems.
RSI on a month chart is saying that we are heavily oversold.
In any case, make sure that this is a very long term trade. It will take a year or two but you will almost triple your money.
Comment:
We just broke out of the wedge