Throughout the past couple of months, slow Dark Pool Quiet Rotation™ was going on while the stock was in Buyback mode. Professional Traders used AXP Buybacks to set up good runs until the past 2 weeks. Now Buybacks stalled, and Retail Traders have taken over.
Unable to complete its bottom from last December’s low reversal to the upside. Retail Investors & Traders as well as plenty of Smaller Funds got duped by Corporate Buybacks. Weekly view shows a Flat Top Formation, one of the newer tops.
Year over Year growth is higher and sure to garner some High Frequency Trader attention. Sometimes a huge final quarter is last hurrah for business cycle. This is a favorite stock with Retail Traders.
ATVI is building an intermediate-term bottom that is a solid base from which the stock can eventually move up as its fundamentals improve. This is a pattern all Retail Traders should notice, especially Position Traders and Intermediate-Term Traders.
