GameStop respawning? We look to Buy at 138.50 (stop at 125.95)
GameStop - Short Term - We look to Buy at 138.50 (stop at 125.95)
Price action looks to be forming a bottom. As this corrective sequence continues we look to set longs on a dip at better risk/reward levels. Levels close to the 50% pullback level of 138.50 found buyers. Further upside is expected although we prefer to set longs at our bespoke support levels at 138.50, resulting in improved risk/reward.
Our profit targets will be 199.40 and 250.00
Resistance: 156.50 / 180.00 / 199.40
Support: 138.50 / 137.24 / 132.85
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