Bearish on GME (Gamestop) - SL 23.70

28 Apr 2017

GameStop has been fighting a losing battle for a while now - I am adding a short position here (My target is $20) due to the fact that it has once again dropped below the 9 day MA, it made a retest of the 50 day MA and failed, and of course it is well below the 200 day MA. Additionally, the RSI has dropped below the 50 zone, the stochastic has downward momentum and the MACD is going to be making a negative cross over (a cross down also into it's negative territory below 0.00)