Game Digital PLC: A rise in momentum is expected

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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.

 

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