Don't Ignore This Chart!

Activision Flies the Flag at Half-Mast


Activision Blizzard (ATVI) sports a bullish continuation pattern and improving momentum. The stock gapped up in mid January and broke out in early February. ATVI was overbought after a 25% surge and worked off these overbought conditions with an extended flag. I say extended because eight weeks is getting long for a flag pattern. Nevertheless, the flag represents a consolidation and a flag breakout would signal a continuation of the January-February surge. The indicator window shows MACD holding above zero and moving above its signal line this week. 

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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