GameStop: sellers retake control
GameStop drops 5% as sellers retake control and the double bottom holds
GameStop: sellers retake control
Our view last week
Week 8 of the sell signal on GameStop: the week just closed gained 4.9%, with buying volume climbing back to 80% after a seller-dominated stretch. The daily chart holds a double bottom in the 21 area, with a 13% intermediate rebound. Buyers have retaken control; the coming week will tell whether they keep it.
This week's summary
GameStop flips last week's script: after a 4.9% rebound on 80% buying volume, sellers retook control this week with 89% of the trade and the stock gives back 5%. Money flow has slipped to -0.29, the weakest reading of the past four weeks, while the daily double bottom in the 21 area keeps holding its ground.
IQS Phase
72
in tension
Signal Strength
29
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#44 / 137
US stocks
Trade P&L %
-0.42%
from signal to today
restricted Platinum content