Gamestop, (GME), the retailer of video games, is sporting a great looking chart. Take a look:
The 2 month consolidation under 39.30 finally broke yesterday with a move to the upside into the gap. That gap lasts until 45.09 above, over 10% higher, and coincides with the longer 200 day Simple moving Average (SMA). As it moves into the gap the Relative Strength Index (RSI) is bullish and making new highs and the MACD is rising, both supporting more upside.
Whenever a move like this out of consolidation starts it is an excellent opportunity to a high reward to risk trade. Use a stop back into the consolidation and adjust it higher as the stock price rises. I bought some yesterday at 39.75. Just because you are supposed to work hard at trading or investing does not mean it has to be complicated.
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