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Possible Bearish Inside Day Candle Pattern Detected for Activision Blizz (NASDAQ:ATVI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Activision Blizz (NASDAQ:ATVI) based on the price action in the company's shares. Today's price range of $46.40 and $46.40 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Activision Blizz may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Activision Blizz (NASDAQ:ATVI) has potential upside of 62.3% based on a current price of $46.40 and analysts' consensus price target of $75.30. Activision Blizz shares should encounter resistance at the 200-day moving average (MA) of $59.13 and support at the 50-day MA of $44.68.

Activision Blizzard, Inc. publishes, develops, and distributes interactive entertainment software and peripheral products. The Company's products covers diverse game categories, including action/adventure, action sports, racing, role playing, simulation, first-person action, music-based gaming, and strategy.

Over the past year, Activision Blizz has traded in a range of $39.85 to $84.68 and is now at $46.40, 16% above that low. The 200-day and 50-day moving averages have moved 0.51% lower and 0.20% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Activision Blizz and will alert subscribers who have ATVI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle activision blizz

Ticker(s): ATVI