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Shares of GameStop Rise to a New 52-Week High

Published on Wed, 04/24/2013 - 14:18
By Mallory Stone

Shares of GameStop (NYSE:GME) traded at a new 52-week high today of $33.55. So far today approximately 1.9 million shares have been exchanged, as compared to an average 30-day volume of 3.2 million shares.

In the past 52 weeks, GameStop share prices have been bracketed by a low of $15.32 and a high of $33.55 and are now at $33.31, 117% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.6%.

GameStop (NYSE:GME) is currently priced 11.5% above its average consensus analyst price target of $29.47. The stock should find initial support at its 50-day moving average (MA) of $27.34 and further support at its 200-day MA of $23.43.

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.

By Mallory Stone
mstone@fnno.com