GameStop (GME) NewsBite - GME Upgraded By Wedbush

Posted: Thursday, October 08, 2009 11:59 AM EDT

GameStop (GME) was upgraded today by analysts at Wedbush and the stock is now at $27.00, up $.76 (2.9%) on volume of 2,598,507 shares traded. Gamestop is moving higher today after being upgraded today by Wedbush to Outperform from Neutral. Over the last 52 weeks the stock has ranged from a low of $16.91 in November to a high of $36.84 last October. GameStop stock has been showing support around $25.79 and resistance in the $26.85 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)