GameStop (GME) NewsBite - GME Upgraded By Goldman Sachs

Posted: Monday, August 31, 2009 1:45 PM EDT

GameStop (GME) was upgraded today by analysts at Goldman Sachs and the stock is now at $23.98, up $0.51 (2.15%) on volume of 4,486,777 shares traded. The analysts added GME to Goldman's Conviction Buy list. Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $46.36. GameStop stock has been showing support around $22.80 and resistance in the $23.90 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 a January out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (GME)