GameStop under management: 15th week of decline
GameStop stock sheds 2.4% as the decline continues but buyers retake volume
Our view last week
GameStop's decline is losing pace: after last week's 11.8% drop, this week closed at -2.6%, but money flow stays on the sell side and the weekly MACD keeps widening its gap from the signal line. The stock is boxed between the daily pivot point, in the 19.16 area, and the related support just below, in the 18.63 area. GameStop stock remains under management for 14 weeks, with the short more than 13% in the money.
This week's summary
GameStop's decline runs into its third straight week: down 2.4% after last week's 2.6% drop, with the weekly MACD stretching its gap from the signal line even wider, now 14 weeks below it. Under the surface, buyers took over the volume after six weeks of sellers in charge, and money flow improved, even if it stays negative. The stock is boxed between the 18.44 and 18.16 areas, with the short now more than 15% in the money.
IQS Phase
68
in tension
Signal Strength
23
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#51 / 93
US stocks
Trade P&L %
+15.66%
from signal to date, no stop loss
Rank position
ranks 51st among the 93 sell signals for US stocks in our ranking, with a signal strength of 23 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimein strong phase
Performanceweekly -0.15% · monthly +3.51%
GME belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in strong phase according to our weekly reading.
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