GameStop (GME.US) stock surged 43% during today's session as the video game retailer is trying to erase yesterday’s sharp losses caused by disappointing fourth-quarter earnings and the possibility of a share sale. It seems that GameStop benefited from a push by retail investors from Reddit which also drove up prices of other meme stocks. AMC Entertainment (AMC.US) shares rose 18.0%.
GameStop (GME.US) stock price is approaching major resistance at $173.08 which is additionally strengthened by 50 SMA (green line). Should break higher occur, then upward move may accelerate towards $219.73. On the other hand, if sellers will manage to regain control, then another downward impulse towards $134.19 could be launched. Source: xStation5
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