GameStop Stock Looks Ready To Level Up As Bulls, Bears Zoom In On Technical Patterns
GameStop Corporation (NYSE: GME) was slightly volatile again on Thursday, popping up almost 4% after the market opened before falling from the high-of-day amid increasing interest in the stock from bulls and short sellers.
The company hasn’t released any significant news recently but from a technical analysis perspective, GameStop has settled several interesting chart patterns, which has undoubtedly contributed to an increase in the number of eyes watching the stock.
While GameStop’s technicals are bullish, it should be noted that Wall Street analysts have an average 12-month price target of $5.60, which is about 63% below the current share price.
The company is also set to report its quarterly financials on June 5, which could either accelerate or destroy any potential bullish continuation.
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