GameStop (GME) Approaches New Upside Target of $27.89

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Dec 11, 2012 (Pivot alerts via COMTEX) -- Shares of GameStop (NYSE:GME) have bullishly opened above the pivot of $27.33 today and have reached the first resistance level of $27.66. Investors may be interested in a cross of the next upside pivot targets of $27.89 and $28.45.

There is potential upside of 3.3% for shares of GameStop based on a current price of $27.76 and an average consensus analyst price target of $28.68. The stock should discover initial support at its 50-day moving average (MA) of $22.34 and subsequent support at its 200-day MA of $20.87.

GameStop Corporation operates specialty electronic game and PC entertainment software stores throughout the United States, Australia, Canada and Europe. The Company stores sell new and used video game hardware, video game software and accessories, as well as PC entertainment software, and related accessories and other merchandise.

In the past 52 weeks, shares of GameStop have traded between a low of $15.32 and a high of $28.00 and are now at $27.76, which is 81% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.2%.

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Copyright, Comtex News Network, Inc. 2012

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