Gamestop Corporations stock price (GME) returned lower in the intraday levels and confirmed the breach of the pivotal support of $11.90, amid the dominance of the main downward trend in the medium term, with negative pressure because of trading below the 50-day SMA, combined with negative signals from the RSI despite reaching oversold levels.

Therefore we expect more losses for the stock, targeting the support of $9.00, provided the stock settles firmly below $11.90.

Trend forecast: Bearish