Activision Blizzard NASDAQ: ATVI Weekly Chart
This morning, Morgan Stanley raised their price target on Activision Blizzard (ATVI) from $76 to $80.
Morgan Stanley also maintained an overweight rating on the stock.
In this blog post, we will review our multi-timeframe analysis on ATVI.
At askSlim.com we use technical analysis to evaluate price charts of stocks, futures, and ETF’s. We use a combination of cycle, trend and momentum chart studies, on multiple timeframes, to present a “sum of the evidence” directional outlook in time and price.
askSlim Technical Briefing:
ATVI’s monthly momentum is firmly positive. The weekly cycle analysis suggests that ATVI is in an intermediate-term rising phase. The next projected intermediate-term low is due between early September and the middle of October.
The daily cycle analysis suggests that ATVI has just formed a short-term low and is now in a rising phase.
On the upside, there is a Fibonacci extension zone from 75.02 – 77.31.
On the downside, there is a short-term support zone from 69.15 – 67.55. For the bears to gain control of the short-term, we would need to see a close below 65.25.
askSlim Sum of the Evidence:
ATVI is in a bullish condition across the monthly, weekly and daily timeframes. There is a likelihood that the stock tests the short-term Fibonacci extension zone beginning at 75 by the end of July.
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