GameStop (GME) NewsBite - GME Could Be On the Move

Posted: Tuesday, June 23, 2009 10:09 AM EDT

GameStop (GME) could be on the move today and is now at $20.92, down $1.04 (-4.74%) on volume of 1,175,458 shares traded. Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $47.69. GameStop stock has been showing support around $21.32 and resistance in the $23.20 range. Technical indicators for the stock are bullish and S&P gives GME a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on GME the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 28 range. [ABR-Seven Summits Strategic Investments NewsBite]

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