ATVI - Activision announced a positive response to the Call Of Duty : Heroes software release. After a fantastic 2015 (100% gain), ATVI took a short break in the uptrend. Now, it looks to be resuming it's investor enthusiasm.
With the SCTR back above 75, the Relative Strength breaking out to new 3 month highs, and the MACD turning up again from above zero, this looks good. The price action looks to be mimicking last year. In 2015, ATVI bounced from a low early in the year. In early May, the stock popped and really moved for the rest of the year. Here we sit in early May 2016 with a similar looking breakout.
In a larger picture, this looks like another nice entry into ATVI. Support at $34 should be used as a stop.
Greg Schnell, CMT, MFTA.
About the author:
, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he 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 Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).
Greg is also the co-author of Stock Charts for Dummies
Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician
, Commodities Countdown
and Don't Ignore This Chart