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GameStop ($GME) Earnings PreviewGameStop ( NYSE:GME ) is set to report its quarterly earnings on Tuesday, September 10th, after the market closes. Analysts are bracing for a challenging report, expecting lower revenue, a slightly larger net loss, and a significant decline in comparable store sales year-over-year. However, the stock's recent technical setup and less volatile trading pattern suggest potential opportunities for traders and investors alike. Here's an in-depth look at both the fundamental and technical aspects of GameStop as we approach the earnings release. Key Financial Metrics and Projections GameStop ( NYSE:GME ) has been grappling with declining sales, increased competition, and shifting consumer behavior in the video game retail space. Analysts project revenue of $900 million for Q2 2024, down from $1.16 billion in the same quarter last year, reflecting a year-over-year decline of approximately 22.4%. The company's net loss is expected to widen slightly to $5.3 million, up from a $2.8 million loss in Q2 2023. Key Financial Estimates: - Revenue: Expected to decline to $900 million from $1.16 billion YoY. - Net Loss: Projected at $5.3 million, larger than last year's loss of $2.8 million but significantly improved from Q1 2024's $32.3 million loss. - Comparable Store Sales: Expected to drop nearly 23% year-over-year, a key metric highlighting reduced consumer spending on discretionary items, including video games. Factors Influencing Fundamentals: - Lower Consumer Spending: Amid inflationary pressures, discretionary spending has taken a hit as consumers prioritize essentials. This shift has particularly impacted GameStop’s sales. - Shift to Digital Sales: The ongoing transition from physical game sales to digital downloads continues to challenge GameStop’s traditional business model. - New Strategic Moves: GameStop recently announced plans to convert some of its stores to "retro" locations, focusing on nostalgic gaming experiences. This could attract a niche audience but remains an unproven revenue driver. Technical Analysis: A Bullish Setup in the Making? Despite the grim outlook on the fundamental side, GameStop’s technical setup tells a different story. As of the latest market session, NYSE:GME is up 3.17%, with the stock showing promising technical signals. Key Technical Insights: - RSI at 55: The Relative Strength Index (RSI) is sitting at 55, indicating a balanced momentum that is neither overbought nor oversold. This suggests that NYSE:GME is maintaining a healthy momentum without being at extreme levels, which could indicate further price movement. - Symmetrical Triangle Pattern: The daily price chart depicts a symmetrical triangle pattern—a bullish continuation or reversal setup that often precedes a significant breakout. With converging trendlines, this pattern typically signals a buildup in buying pressure, leading to a potential upside move. Trading Volume and Volatility: - Volume Trends: Trading volume has been steady, reflecting less of the extreme volatility seen earlier in 2024. This calmer trading behavior may provide a more predictable environment for swing traders looking for a breakout opportunity. - Support and Resistance Levels: Key support is around the $16 mark, while resistance sits near the $20 level. A breakout above this resistance could catalyze further gains, especially if positive earnings surprises or forward guidance are announced. Market Sentiment and Influences: - Meme Stock Legacy: While GameStop remains a heavily watched stock due to its meme status, recent activity has been relatively muted compared to past years. Influential trader Keith Gill, also known as “Roaring Kitty,” recently made a social media comeback, posting a cryptic message that could reignite interest among retail investors. - Analyst Ratings and Revisions: Analysts have been cautious, with recent revisions reflecting skepticism about GameStop’s ability to return to profitability. However, any positive guidance or surprise in earnings could quickly alter this sentiment, given the stock’s history of sharp moves. Outlook and Trading Strategy Near-Term Outlook: GameStop’s upcoming earnings report will be crucial in setting the tone for its stock trajectory. While the fundamentals suggest ongoing challenges, the technical setup and market sentiment hint at the possibility of a bullish breakout, particularly if earnings beat expectations or management outlines a compelling strategic direction. Potential Strategy: Traders may consider positioning for a potential breakout, closely watching key levels around the symmetrical triangle pattern. Caution is advised due to the inherent volatility around earnings announcements. Conclusion: GameStop’s stock sits at a crossroads, with fundamental challenges being counterbalanced by a potentially bullish technical formation. Investors should keep an eye on Tuesday’s earnings release for critical insights into GameStop’s future direction. As NYSE:GME continues to evolve from its meme stock origins, the upcoming financial results could provide pivotal data points for both short-term traders and long-term investors seeking to understand its market dynamics.
NYSE:GMELong
by DEXWireNews
2
GME Gamestop Technical Analysis and Trade IdeaIn a recent video, I covered a trade idea prior to the Gamestop (GME) bull rally. Since then, we’ve observed a significant bearish movement. I’m closely monitoring the current price level for another potential buying opportunity, provided that price action aligns with my analysis from the video. The market is currently moving sideways, and if we wait for increased volatility above and below the range, we might be able to capitalize on a bullish trend by entering a break re-test and fail of the range on the 15-minute chart if we see higher highs/lows forming. The video covers critical elements, including trend analysis, price action insights, market structure, and a potential trade setup. Always exercise prudent risk management when trading, and keep in mind that this information is purely educational and not financial advice. 🚀📊
Editors' picks
NYSE:GMELong
by tradingwithanthony
13
GME Gamestop Technical Analysis and Trade IdeaIn our recent video, we conducted a concise technical analysis of GameStop (GME). After a bullish rally, GME became overextended, hitting resistance levels and subsequently retracing significantly. Currently, we’re closely monitoring key support levels. Our primary objective is to pinpoint an optimal buy entry point within this critical support zone, provided that price action aligns with our analysis from the video. As always, our video provides valuable insights into trade entry points, trend analysis, market structure, and price action. Remember that this content is for educational purposes only and should not be considered financial advice. 📈🚀📊
NYSE:GMELong
by tradingwithanthony
4
GME Gamestop Technical Analysis and Trade Idea👉 In this video, we closely examine GameStop (GME). The stock has been range-bound for some time, showing lower highs and lower lows, indicating a slight bearish trend. Despite this, my focus is on a potential long position rather than shorting the stock. We explore a possible buying opportunity if the price action aligns with the scenario discussed. If the price continues to decline, we will abandon the idea. In the accompanying video, we delve into the trend, market structure, price action, and other crucial elements of technical analysis. Remember, this video is purely educational and not financial advice. 📊✅
NYSE:GME
by tradingwithanthony
13
GME - Week of June 17, 2024NYSE:GME - Thesis - Management is Ryan Cohen; the buffet approach - With over $4 billion in cash, Game Stop has a better Price-to-Cash valuation than plenty of companies inside NQ. - RK comes back after a three year hiatus, with transparency of his portfolio. - Market structure is forming a moon landing to $120+ per share. - And with a cultist group of degenerates (like myself); Hedgies Getting Wedgies - Dumb Money 2 will be made. Despite all of this.... I can be totally wrong & management could rug pull everyone and it goes straight down to zero. Nothing I post is financial advice nor investment advice.... I simply like this stock!
NYSE:GMELong
by AnthonyGarciaEth
GAMESTOP SOARING from $25 to $111 - $168 range.GME just got $1 BILLION dollars in funding. Price expected to rise past all short squeezes in the $120 - $168 price range. This stock just went from a simple meme to opposing sides on institutional traders that even Kramer is beginning to call it a good investment (not that his opinion matters at this point with the amount he flip-flops with retail investors money) Invest smart, invest hard. This one's to the moon. Boost my post if you like this idea 💡 Also follow and subscribe for more uproars. Let's spread the word together. Roaring Puppy 🐶 out.
NYSE:GMELong
by St0ckWr4ngl3r
GME Short Sale Volume Analysis: Short Selling Dynamics & Keltner Overview: GME is exhibiting compelling signals that warrant attention from traders and investors. We have observed significant activity in short sale volume alongside a notable expansion in the Keltner Channel. These indicators suggest potential market volatility and trend shifts in the near term. Key Technical Indicators: Short Sale Volume & Market Dynamics: Short Selling Explained: Short selling involves borrowing shares of a stock and selling them on the open market with the intention of buying them back later at a lower price. Traders profit from the difference if the stock price declines. This practice is often utilized by investors who believe a stock's price will fall. Role of Market Makers: Market makers facilitate the trading of stocks by providing liquidity. They are essential in ensuring that there are enough shares available for buying and selling, including those needed for short selling. Market makers often hedge their positions to manage risk. Short Squeeze Potential: When the short sale volume is high, and the stock price begins to rise, short sellers may rush to buy back shares to cover their positions, fearing further losses. This buying frenzy can drive the stock price even higher, creating a short squeeze. Keltner Channel Expansion: The Keltner Channel, which utilizes the Average True Range (ATR) to set its boundaries, is currently expanding at the fastest rate since December 2020. An expanding Keltner Channel indicates increasing volatility. The last time we observed such rapid expansion, it was followed by significant price action in GME, making this an essential indicator for traders. Implications: Bullish Sentiment: The high short sale volume suggests significant bearish bets, which could lead to a short squeeze if the price starts to rise, forcing short sellers to cover their positions. Increased Volatility: The expanding Keltner Channel signals that GME could experience substantial price swings. This heightened volatility necessitates careful risk management, with wider stop losses to avoid premature exits during volatile price movements. Hi! this was generated by AI because it's 02:16 version 2.0 if this picks up cheers
G
by Stranglemaniac
#GAMESTOP IS NOT GOING TO STOP!GameStop Corp (#GameStop) video game store chain shares soared by 46% during Monday's trading on the New York Stock Exchange (NYSE), reaching $25 . The surge didn't stop there, as on Tuesday the price reached up to $60 per share! Wednesday opened with a sudden downward gap, but by the end of the session, the price confidently recovered to $40. What will happen today? The rollercoaster ride repeats itself with this stock after the sudden return to social media by YouTube streamer Keith Gill, known as Roaring Kitty. He posted a mysterious message on the X service (formerly Twitter), showing that he's always in the know. Gill's post garnered over 8 million views within hours of its late Sunday posting, marking his first post on the account since June 2021. The surge in stock prices led to a so-called "short squeeze" - a situation where investors betting against the stock and opening short positions are forced to buy stocks as their prices unexpectedly rise, contrary to their expectations. This situation further fueled the rise in shares, which appreciated by hundreds of percent. As a result, funds betting against the company's stocks lost billions of dollars. Giacomo Pierantoni, Head of Data at Vanda Research, stated that the overwhelming majority of demand for shares now comes from retail investors. It seems that, as in January 2021, investors are betting against those shorting GameStop Corp (#GameStop) shares, notes MarketWatch.
NYSE:GME
by Fresh-Forexcast2004
1
GME : Is the GAMESTOP Super Pump OVER?NYSE:GME 🚀 NYSE:AMC In a single day, GameStop was able to outperform an entire year of BTC. GameStop stock and AMC shares soared Monday after Keith Gill, who sparked the meme stock rally during the pandemic, made his return to social media for the first time in three years. The New York Stock Exchange temporarily paused trading on GME stock 34 times. Short sellers are estimated to have lost over SEED_TVCODER77_ETHBTCDATA:5B in tow days. One thing that is very evident (except for massive whale plays and no doubt insider trading) is the gap that formed around $20-$25. The price is known t return to fill the gap, so I am SHORT until that zone is filled, calling this entire scheme one big pump-and-dump. AMC will soon fall to pre-pump lows as well, as the price levels fails to hold for even 12h: Sellers are now dominating lower timeframes and the price continues to fall fast. The price COULD fall or wick as low as the trendline on the technical indicator: __________________
NYSE:GMEShort
by CryptoCheck-
2
GME Gamestop Technical Analysis and Trade IdeaHistorically, GME (Gamestop) has been in a downtrend when we look at the monthly time frame. However, recent developments indicate a potential shift in the trend. As we zoom in on shorter time frames (weekly and daily), we observe signs of bullish momentum. Buyers may find opportunities in these time frames. In a video, we explore a potential trade idea. First, on the 4-hour chart, we notice that the price has retraced into an optimal buy zone. Next, we delve into the 15-minute chart, waiting for specific price action confirmation before getting involved. Remember that trading carries inherent risks. This information is intended for educational purposes only and should not be considered financial advice. Always manage your risk wisely. 📈👍
NYSE:GMELong
by tradingwithanthony
7
GME Euphoria time?Analyzing GameStop is always difficult. I have seen the previous reddit pump some years ago, and it was pretty hard to find possible entries and reversal pattern. But this time the chart is giving us some useful info. We can see a break above daily trendline, and the black box a liquidity zone (actually a resistance). The main chart looks bullish, and today's pump can be a signal of a possible round 2. To confirm a bullish trend, we must close a daily candle above the black box, that will eventually help us reaching the top again. If the community will try to repeat the miracle again, this time funds will be prepared and it will not so easy. But, on the other hand, community is stronger now and probably bigger. Let's see
NYSE:GMELong
by SaliJournal
GameStop Balanced Financial Struggles with Bullish BreakoutAmidst a turbulent period marked by declining stock prices and revenue woes, GameStop Corporation ( NYSE:GME ) finds itself at a crossroads in the gaming industry. Despite facing significant setbacks, including a staggering decline in stock price and revenue, the company maintains a robust balance sheet and strategic initiatives that hint at a potential turnaround. As GameStop ( NYSE:GME ) grapples with its financial challenges, investors closely scrutinize its recent decision to invest excess cash into other ventures rather than pursuing stock buybacks. This move has sparked debate among stakeholders, raising questions about the company's long-term strategy and allocation of resources. With the anticipation of the company's upcoming financial results, scheduled to be unveiled on Tuesday, analysts and investors alike eagerly await insights into GameStop's ( NYSE:GME ) performance amidst a slowing gaming industry. Despite recent revenue declines, the company's ability to narrow losses through cost-cutting measures offers a glimmer of hope for a potential rebound. Technical analysts point to a compelling bullish breakout potential, as GameStop ( NYSE:GME ) forms a falling wedge pattern nearing its confluence zone. This bullish signal, coupled with an upcoming earnings announcement, underscores the pivotal moment for the company's trajectory, with $15 emerging as a key milestone to watch. In the face of adversity, GameStop ( NYSE:GME ) retains its resilience, bolstered by a strong balance sheet boasting substantial cash reserves and minimal debt. While challenges persist, the convergence of financial stability and bullish technical indicators presents an intriguing investment opportunity for discerning investors seeking to capitalize on potential upside momentum. As GameStop ( NYSE:GME ) navigates these uncertain waters, the company's ability to strike a balance between addressing financial struggles and leveraging breakout opportunities will ultimately determine its path forward in the ever-evolving gaming landscape.
NYSE:GMELong
by DEXWireNews
Can AMC continue after a good trading day ? LONGAMC on a 30-minute chart is putting in a double bottom. In mid-December, a symmetrical head and shoulders is formed. The right shoulder being higher than the left makes for a diagonal neckline which yields a target in the area of 5 confluent with the level of a high pivot on January 10th. A standard Fibonacci retracement of the Janaury trend down would put a target at about 4.55. The AI predictive tool looking back for similar patterns has printed a buy signal. On this instrument at this time frame, the indicator has a 98% accuracy for win rate. The ADX indicator shows a line cross and a "green" bull trend beginning. Overall, I find AMC to be set for a long trade targeting 4.5 and 4.95 for one-third each with the remaining to run in case a short squeeze gets underway.
NYSE:AMCLong
by AwesomeAvani