A rise in
momentum is expected on Game Digital stock (LSE:GMD), which would follow the
current pullback in the context of a choppy market.
4 EMAs are
used for this analysis and they are EMAs 10, 20, 50 and 200. The color that
stands for each EMA is shown at the top left part of the chart.
It can be
seen that the EMAs 10, 20, and 50 are sloping upwards, and once price closes
above the EMA 200 (a Golden Cross), a long-term bullish signal would be
generated and price would be expected to reach the resistance levels at 50.00,
55.00 and 60.00 within the next several months.
Game
Digital PLC has cogent chances of going upwards soon. And the EMAs 10, 20 and
50 would have moved above the EMA 200, as it is also sloping upwards.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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