Gamestop TA for Swing Traders Aug 11, 2024 - #Gamestop #GME #TA #tonydenaro

Gamestop TA for Swing Traders Aug 11, 2024 #GME #GameStop #tonydenaro
A look at Gamestop Technical Analysis for August 11th, 2024. How did the GME Technical Analysis change from last week? Gamestop share price fell through Demand Zone 1 into the lower Demand Zone as expected then caught a bounce off the bottom of the lower Demand Zone as we would also expect. The previous higher Demand Zone is now invalidated for Gamestop and may act as a point of resistance, ie a Supply Zone, for Gamestop share price, so this will need to be watched closely. If the price of GME can push through the new Supply Zone generated by the Continuation Pattern Drop-Base-Drop it may create an even stronger bullish signal. If GME rejects off this zone or the hourly 200 MA then patience is in order before making any decisions.

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DISCLAIMER: Content, strategies and opinions on this channel are for entertainment purposes only. These are Tony's opinions, not specific investment or legal advice for you. Always do your own due diligence, read company filings and financial statements and seek a duly licensed professional for investment, tax or legal advice. Past performance is not a predictor of future results. This is not personalized but rather general educational and informational material.