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Actionable news in GME: GAMESTOP Corp CLASS A,

How to Play a Gamestop Breakout Rally

Shares of the video game and accessories retailer GameStop (GME) are forming a basing pattern just below their 200 day moving average. Bullish technical divergences suggest a breakout is imminent and the large outstanding short interest could spark a covering rally that has the potential to realize an 18% gain.

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The weekly chart shows the stock attempting to recover from the sharp drop in late 2015, which saw it lose nearly half its value. A failed attempt to recover the 40 week moving average last year resulted in new lows, but the $20.00 level has held...