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Look for Shares of Activision Blizzard to Potentially Pullback after Yesterday's 1.35% Rise

By Amy Schwartz

Activision Blizzard (NASDAQ:ATVI) traded in a range yesterday that spanned from a low of $58.70 to a high of $59.45. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $59.20 on volume of 4.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Activision Blizzard have traded between a low of $22.66 and a high of $60.13 and are now at $59.28, which is 162% above that low price. 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 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 51.0%. We continue to monitor ATVI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Activision Blizzard

Ticker(s): ATVI