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.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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