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Gamestop price retests pivotal resistance - Forecast today - 23-07-2025

Economies.com
2025-07-23 13:36PM UTC
AI Summary
  • GameStop Corporation (GME) retested key resistance at $24.50, triggering renewed downward pressure and remaining under a short-term corrective downtrend
  • Stock is part of the "meme stocks" group, subject to heavy speculative trading, making price movements unpredictable
  • Forecast predicts a decline in upcoming sessions as long as $24.50 resistance holds, targeting support at $20.75

GameStop Corporation (GME) experienced a volatile session in recent intraday trading, following a retest of the key resistance level at $24.50, which held firm and triggered renewed downward pressure. The stock remains under the influence of a steep short-term corrective downtrend, with continued negative pressure from trading below the 50-day SMA. Additionally, the Relative Strength Index has reached extremely overbought territory relative to price action, suggesting the early formation of a bearish divergence.

 

High-Risk Warning: GME is part of the “meme stocks” group, which are often subject to heavy speculative trading. As a result, its price movements can frequently defy technical expectations or financial reports and may be highly unpredictable.

 

Therefore we expect the stock to decline in upcoming sessions, as long as the $24.50 resistance level holds, targeting the support level at $20.75.

 

Today’s price forecast: Bearish.

 

 

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Pinduoduo price extends gains - Forecast today - 23-07-2025

Economies.com
2025-07-23 13:35PM UTC

Pinduoduo Inc (PDD) extended its gains in recent intraday trading, supported by dynamic momentum from trading above its 50-day SMA. This helps stabilize the prevailing short-term corrective uptrend, as the stock continues to move along a supportive ascending trendline. Additionally, the Relative Strength Index is showing bullish signals, despite being in extremely overbought territory.

 

Therefore we expect the stock to rise in upcoming sessions, as long as support at $108.70 holds, targeting the key resistance level at $123.00.

 

Today’s price forecast: Bullish.

 

 

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IBM price seeks a supportive bottom - Forecast today - 23-07-2025

Economies.com
2025-07-23 13:35PM UTC

International Business Machines Corporation (IBM) declined in its latest intraday trading, as it attempts to establish a higher low that could serve as a base for regaining positive momentum and resuming its recovery. The stock remains supported by dynamic backing from trading above its 50-day SMA, and it continues to move within a dominant upward trend along a short-term ascending trendline. Additionally, a bullish divergence is beginning to form in the Relative Strength Index, after it reached extremely oversold territory relative to price action, with early bullish signals starting to appear.

 

Therefore we expect the stock to rise in upcoming sessions, provided support at $277.20 holds, targeting the key resistance level at $296.00.

 

Today’s price forecast: Bullish.

 

 

 

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Weekly performance report available here: Trading Signal Results – Week of July 14–18, 2025

Nvidia price tries to regain footing - Forecast today - 23-07-2025

Economies.com
2025-07-23 13:35PM UTC

NVIDIA Corporation (NVDA) advanced in its latest intraday trading, challenging the current resistance level at $171.95. The stock remains under the influence of a medium-term upward trend, trading along a short-term ascending trendline, with continued positive momentum from staying above the 50-day SMA. This latest rise followed a successful relief of previous overbought RSI conditions, giving the stock more room to extend its gains.

 

Therefore we expect the stock to rise in upcoming sessions, especially if it breaks above the $171.95 resistance level, targeting the next resistance at $193.75.

 

Today’s price forecast: Bullish.