TrendSpider’s Chief Marketing Analyst Jake Wujastyk was recently featured in Business Insider for his thoughts on GameStop’s (GME) most recent moves.
“Overall, the market has been favoring large-cap names such as Apple, Microsoft, Netflix, and those alike as smaller cap growth names and meme stocks have taken a hit over the last several weeks,” said Jake Wujastyk on the change in attitude towards GME. “In regards to the technical analysis side of things, GameStop did break down through the longer-term trendline … back in mid-June. However, the continuation down after this breakdown of the longer-term trend has been on very low volume. If the price closes red this week, it would be the sixth red week in a row, something that rarely happens without some type of relief bounce.”
You can read more of Wujastyk’s thoughts and the full article here.