Watch for Activision Blizzard to Potentially Pullback After Gaining 1.95% Yesterday
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.
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.
In the past 52 weeks, shares of Activision Blizzard have traded between a low of $22.66 and a high of $45.12 and are now at $44.31, which is 96% above that low price. 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%.
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