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

By David Diaz

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 $63.95 and $64.20 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 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.

In the past 52 weeks, Activision Blizz share prices have been bracketed by a low of $40.89 and a high of $64.20 and are now at $63.99, 56% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

Activision Blizz (NASDAQ:ATVI) has potential upside of 17.7% based on a current price of $63.99 and analysts' consensus price target of $75.30. Activision Blizz shares have support at the 50-day moving average (MA) of $59.44 and additional support at the 200-day MA of $52.38.

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