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Watch for Continued Gains in Shares of Activision Blizzard (ATVI)

By Shiri Gupta

Shares of Activision Blizzard (NASDAQ:ATVI) traded at a new 52-week high today of $51.67. So far today approximately 559,000 shares have been exchanged, as compared to an average 30-day volume of 5.1 million shares.

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

Activision Blizzard share prices have moved between a 52-week high of $51.67 and a 52-week low of $22.66 and are now trading 128% above that low price at $51.64 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

Based on a current price of $51.64, Activision Blizzard is currently 1.7% above its average consensus analyst price target of $50.75. The stock should discover initial support at its 50-day moving average (MA) of $33.30 and subsequent support at its 200-day MA of $32.98.

SmarTrend recommended that subscribers consider buying shares of Activision Blizzard on January 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.79. Since that recommendation, shares of Activision Blizzard have risen 32.4%. We continue to monitor ATVI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Activision Blizzard

Ticker(s): ATVI