Long term I'm still not totally sold on GameStop's fundamentals. However, this is looking very oversold on news that it's smartphone sales/replacements did not do nearly as well as they though. Other news was fairly positive, however.
If this stock approaches $16 I would expect substantial support, and should that happen, MACD lines should confirm a bullish trend.
Watching for continued GERN breakout here. Weekly chart looks good with converging MACD lines. Looks to have bounced off a support level around $1.80.
Will watch for trend confirmation at $2.10 with a stop loss of $2.00 and price target of $2.80.
Daily chart:
CCJ turning around. Strong weekly bullish convergences.
Going to go with a tight trade. Stop Limit of $10 with price target of $11 and stop loss of $9.70.
Daily chart:
Weekly MACD shows bullish convergence. Daily shows beginning of reversal. Support around the $25 mark with resistance near $29.
Stop Limit at $25.75 to confirm trend with a price target of $28 and stop loss of $25.25.
Strong bullish weekly MACD convergences with recent breakout last week. Daily chart confirms start of a trend.
Going long ta $11.35 with a tight stop of $10.90 and target of $14. Reward/Risk ration of 6.05
Daily chart:
Weekly MACD chart shows strong bullish convergences. Daily chart mimics the trend, plus a positive earnings surprise last week.
Will go long at $2.10 with a $3 price target and $1.80 stop loss. Reward/Risk ratio of 3.
