ATVI finds support at 200-day moving average


Activision Blizzard (ATVI) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
ATVI finds buyers at key support level
ATVI finds support at 200-day moving average
ATVI closes higher for the 2nd day in a row
ATVI finds buyers again around 69.77
ATVI rises to highest close since August 3rd
TQ Sentiment
Report Sentiment: 30% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ATVI ended the week -1.0% lower at 70.61 after edging higher $0.11 (0.16%) today. Today's closing price of 70.61 marks the highest close since August 3rd. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for ATVI
Volatility

Friday's trading range was $1.27 (1.81%), that's below last trading month's daily average range of $1.93. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 69.27 and 71.67 which it has been in now for the last trading week.

Support/Resistance

After trading as low as 69.77 during the day, the market bounced off the key support level at 69.87. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 71.79. After having been unable to move lower than 69.56 in the prior session, the share found buyers again around the same price level today at 69.77. After trading as low as 69.77 during the day, Activision Blizzard found support at the 200-day moving average at 69.87.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 71.67 where further buy stops might get triggered. Selling could accelerate should prices move below the close-by swing low at 69.27 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Activision Blizzard
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Doji TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ATVI finds buyers at key support level

Aug 16, 2018
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