Filed under: Microsoft (MSFT), Amazon.com (AMZN), Sony Corp ADR (SNE), Best Buy (BBY), Technical Analysis, Stocks to Buy

GameStop Corporation (NYSE: GME) is the world’s largest video game and entertainment software retailer, offering software, hardware and game accessories for the PC, as well as video game systems from Sony (NYSE: SNE), Nintendo (OTC: NTDOY) and Microsoft (NASDAQ: MSFT). The firm also owns two e-commerce sites and Game Informer, a leading video and computer game magazine. GameStop operates 5,123 retail stores across the United States and in 15 countries worldwide. Amazon.com (NASDAQ: AMZN) and Best Buy (NYSE: BBY) are competitors.

The stock is up nearly forty percent over the past five months, sparked by such issues as better than expected EPS/sales results in Q2 and Q3; upside guidance for Q4 EPS; and solid same-store sales improvements in Q2 (29.1%), Q3 (46.3%) and the nine-week holiday period (20%). The news has the stock cycling through a positive trading channel. The price is consolidating near the base of that channel, where oversold CCI, MACD and Momentum technical parameters suggest the potential for a rise back toward the top.

Continue reading GameStop Corporation: GME shares advance through positive trading channel

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This entry was posted on Wednesday, January 16th, 2008 at 12:28 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.