• Return to Headlines

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

By Shiri Gupta

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 $48.60 and $48.90 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 share prices have moved between a 52-week high of $84.68 and a 52-week low of $39.85 and are now trading 22% above that low price at $48.81 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.8%.

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.

There is potential upside of 54.3% for shares of Activision Blizz based on a current price of $48.81 and an average consensus analyst price target of $75.30. The stock should discover initial support at its 50-day moving average (MA) of $47.14 and subsequent support at its 200-day MA of $46.88.

SmarTrend is monitoring the recent change of momentum in Activision Blizz. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Activision Blizz in search of a potential trend change.

Keywords: bearish inside day candle activision blizz

Ticker(s): ATVI