GameStop Corp. (NYSE:GME) is trending Monday after SEC filings showed CEO Ryan Cohen made two separate share purchases in recent days, one disclosed on September 29 and another on October 2.
- GameStop shares are showing limited movement. Where is GME stock headed?
Two Separate Purchases by Cohen
A Form 4 filed after the market closed September 29 showed Cohen, who is also the company’s chairman and president, bought 450,000 shares at an average price of $23.48. A second, separate Form 4 filed after the close Friday showed he bought another 700,000 shares at an average price of $24.41. At those average prices, the two purchases total roughly $27.7 million. Both were accompanied by amended Schedule 13D filings.
The purchases follow a 1 million-share buy earlier in September at an average price of about $20.38.
GameStop Trades Above Every Major Moving Average
From a trend perspective, GameStop is trading above its 20-day, 50-day, 100-day, and 200-day simple moving averages, with the stock about 10.9% above the 20-day SMA and about 12.2% above the 200-day SMA—typically a constructive backdrop for dip-buyers. That said, the longer-term picture still carries some baggage because the 50-day SMA remains below the 200-day SMA, keeping the "death cross" from June in play as an overhead caution flag.
Momentum is leaning more supportive right now: MACD is above its signal line and the histogram is positive, which points to improving upside pressure versus the prior downswing. In plain terms, when MACD is above its signal line, it suggests sellers are losing control and buyers are starting to press again, even if the bigger trend isn’t fully "all clear."
- Key Resistance: $25.50 — a nearby ceiling where rebounds can stall, sitting just above the current price and close enough to act as an immediate decision point.
- Key Support: $21.50 — a nearby floor that lines up closely with the 50-day EMA ($21.55) and the 100-day EMA ($21.54), making it a logical area where buyers may try to defend trend support.
Zooming out, the stock is still working inside its 52-week range of $17.79 to $28.10, and it’s currently closer to the upper end than the August low. Traders will generally read a clean push through $25.50 as a step toward re-testing that $28.10 area, while a slip back toward $22–$21.50 would put the moving-average "support stack" to the test.
GameStop Shares Trade Flat
GME Price Action: At the time of publication, GameStop shares are trading 0.77% higher at $24.89, according to data from Benzinga Pro.
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