December 5, 2022

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GameStop shares take a dip in non-stop slide — spot the pattern

1 min read

GameStop down 30%

GameStop down 30%

Even the ‘apes’ (as they call themselves) at GME can figure out the pattern in this chart. The company’s share peaked just ahead of earnings last time and they’ve done it again. Shares are down 30% today.

Shares opened only $20 lower today and were steady for 20 minutes after the open. Since then, the selling has been absolutely relentless, falling to a low of $211 a short time ago before bouncing to $216.

If the pattern from the last earnings report plays out, there’s still plenty of downside to come. The area around $135 is support.

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