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Upgrade Alert for GameStop (GME)Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- GameStop (NYSE:GME) was upgraded from Neutral to Overweight at Piper Jaffray today. The stock closed yesterday at $23.20 on volume of 5.1 million shares, above average daily volume of 3.4 million. GameStop has overhead space with shares priced $23.20, or 19.3% below the average consensus analyst price target of $28.75. The stock should find resistance at its 50-day moving average (MA) of $25.27, as well as support at its 200-day MA of $21.41. GameStop Corporation operates specialty electronic game and PC entertainment software stores throughout the United States, Australia, Canada and Europe. The Company stores sell new and used video game hardware, video game software and accessories, as well as PC entertainment software, and related accessories and other merchandise. In the past 52 weeks, shares of GameStop have traded between a low of $15.32 and a high of $28.35 and closed yesterday at $23.20, which is 51% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%. SmarTrend recommended that its subscribers protect gains by selling shares of GameStop on December 21st, 2012 by issuing a Downtrend alert when the shares were trading at $25.71. Since that call, shares of GameStop have fallen 9.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |