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GME, enters Downtrend as Momentum drops below 0 level on May 03 for NYSE:GME by tickeron

This indicator may be signaling that GME .B’s price has further to drop, since it fell below its price logged 14 days ago. Traders may consider selling the stock, shorting the stock, or exploring put options. Tickeron’s A.I.dvisor backtested 80 similar cases where GME .B’s Momentum Indicator fell below the 0 level, and 67 of them led to a successful outcome. Odds of Success: 84%. Current price $162.20 crossed the support line at $168.74 and is trading between $168.74 support and $143.29 resistance lines. Throughout the month of 03/31/21 – 05 /03/21, the price experienced a -15% Downtrend. During the week of 04/26/21 – 05 /03/21, the stock fell -4%.

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 03, 2021. You may want to consider selling the stock, shorting the stock, or exploring put options on GME .B as a result. Tickeron A.I. detected that in 67 of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 84%.

GME .B moved below its 50-day Moving Average on May 03, 2021 date and that indicates a change from an upward trend to a downward trend.

The 10-day Moving Average for GME .B crossed bearishly below the 50-day moving average on May 03, 2021. This indicates that the trend has shifted lower and could be considered a sell signal. Tickeron A.I. detected that in 12 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 86%.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where GME .B declined for three days, the price rose further, 50 of 62 cases within the following month. The odds of a continued downward trend are 78%.

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