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

By Nick Russo

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. Yesterday's price range of $64.02 and $64.36 is within the prior day'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 $64.43 and a 52-week low of $40.89 and closed yesterday at 57% above that low price at $64.00 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

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.

Activision Blizz (NASDAQ:ATVI) has potential upside of 17.7% based on a current price of $64.00 and analysts' consensus price target of $75.30. The stock should discover initial support at its 50-day moving average (MA) of $59.81 and subsequent support at its 200-day MA of $52.54.

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 am inside day candle activision blizz

Ticker(s): ATVI