ATVI finds support at 200-day moving average
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.
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
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.
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
|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|
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