The Electronic Arts Company (EA) has really been on a roll the last few years. Recently the stock started to consolidate in a tight range sideways. But this week, the momentum looks higher again. Today, it is outpacing the broader indexes and is on its way to the $75 level. The SCTR ranking surged back above 90 and is really strong.
Today marks a break of the two-month trend line within a sideways consolidation. It still looks bullish. I think as long as the general market holds up this should continue to find higher highs. Most of the pullbacks matched the overall market pullbacks.
Greg Schnell, CMT