Activision Blizzard Rises 1.95% on Heavy Volume: Watch For Potential Pullback
Activision Blizzard (NASDAQ:ATVI) traded in a range yesterday that spanned from a low of $43.96 to a high of $44.75. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $44.33 on volume of 5.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Activision Blizzard has traded in a range of $22.66 to $45.12 and is now at $44.31, 96% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.
SmarTrend recommended that subscribers consider buying shares of Activision Blizzard on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.46. Since that recommendation, shares of Activision Blizzard have risen 7.6%. We continue to monitor ATVI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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