Activision (ATVI) earnings are in 5 days. (Feb 6th ... expected $1.51)
We are currently in a developing Butterfly Harmonic
My chart clearly illustrates 2 targets and trendline break challenges (2) along the way.
Enough said
Perhaps a safer trade might be to wait for a breach of challenges 1 and 2
Keep an eye on broader markets and DYODD.
S..
SPY had an atypical session yesterday ranging only 0.7% as the market awaits Powell's planned speech today at 12:40 ET. No bias for today until the market digests the contents of the speak and chooses a direction. In the grand scheme, we are amidst a healthy low volume pullback still above key levels.
Capitulation trades: TAL, ATVI, CHGG
TAL - Capitulation...
Currently Activision (ACTI) is trading for $76. Microsoft is buying them in 2023 for $95 (assuming regulators don't block it). That's a 25% return in less than 1 year.
I recently made this. And just today I added the opposite direction. The gold circle on the right side I added today. The speed fans facing down is where I started from.
The PEAD projected a Bullish outlook for $ATVI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 87.5%.
Activision - 30d expiry - We look to Sell a break of 73.59 (stop at 76.11)
Short term bias is bearish.
There is no clear indication that the downward move is coming to an end.
We have a 38.2% Fibonacci pullback level of 74.15 from 103.41 to 56.07.
73.71 has been pivotal.
A break of 73.71 is needed to confirm follow through negative momentum.
The failure to...
The PEAD projected a Bullish outlook for $ATVI after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
ATVI
Call of Duty? A Put more like it.
ATVI saw price continue its Uptrend on Sept. ’19 when it broke above 50.00.
Price moved to all-time highs of 104.17 by Feb.’21.
On July ’21, a Distribution stage was confirmed when price broke down from sideways range of 87.75 - 98.
Shortly after the breakdown, we had a death cross between the 50 and 200 ema signaling the...
Subwave structure of the current upside move is three wavish, which is corrective, and not impulsive.
If H&S confirms, the target is $10 and lower.
Not sure whats gonna be the driver for that decline, maybe CMA wont allow the merger to occur? Idk.
This morning I received a Spike Alert for price volatility at the open on Activision Blizzard NASDAQ:ATVI . Perhaps people are excited about Wrath of the Lich King classic being released? :D
This swing trade occurs within the context of the Merger Arbitrage trade which has been going on for many months since Microsoft announced an offer of $95/share to purchase...
Falling Wedge in yellow
A Falling Wedge is a bullish continuation pattern and in this case is at the bottom of a larger ascending channel
Once price touches this lower channel band again and forms a double bottom the falling wedge will come into effect and push price back up further into the ascending channel
Activision
Short Term - We look to Buy at 79.10 (stop at 76.16)
A bullish reverse Head and Shoulders has formed. This is positive for sentiment and the uptrend has potential to return. A weaker opening is expected to challenge bullish resolve. Previous resistance at 79.00 now becomes support. Further upside is expected although we prefer to set longs at our...
Not Financial Advice ~ A prediction
I think blizzard has met its newest level of resistance. In the upcoming weeks I expect ATVI to head back down to its latest level of support. To bounce back up, but I think the continuation bounce is going to be significantly lighter than the first.
