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Benzinga
Benzinga
Business
Melanie Schaffer

GameStop Explodes Higher, May Regain Key Sentiment Indicator: Here's What To Watch

GameStop Gamestop Corporation NYSE

GameStop Corporation (NYSE:GME) surged over 24% above Friday’s closing price when the markets opened Monday before running into a group of sellers, who knocked the stock down about 15% off the daily high.

On Oct. 21, Benzinga pointed out that exaggerated bullish divergence had occurred on Gamestop’s chart, making an upward break from the stock’s sideways trading pattern the most likely scenario. The stock broke up from its sideways trading pattern on Friday.

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