$ATVI potential weekly rounding bottom reversal #stock #trading
$ATVI EARNINGS RESULTS TODAY AFTER MARKET CLOSE!!! (outlook obviously depends on the outcome, but I publish this especially for those interested in earnings results options strategy)
$ATVI stock price has hit a 2018 high of 84.68 in OCT and has been in a downtrend since.
It has hit a low of 39.85 in FEB'19 and since then chart has formed a potential rounding bottom reversal pattern.
In addition since SEP'19 the chart is forming an ascending triangle with the resistance line around 56.60
Also worth mentioning both MACD and RSI have shown signs of positive divergence since the bottom in FEB'19
Look for a sustained BREAKOUT AND CLOSE above the resistance at 56.60 on the weekly chart ( ideally a CLOSE above the highs at 57.50 will be more powerful )
Targets:
T1 - from the ascending triangle breakout is around 62.95
T2 - from the breakout of the rounding bottom reversal is around 73.35
Good luck,
TA
$ATVI stock price has hit a 2018 high of 84.68 in OCT and has been in a downtrend since.
It has hit a low of 39.85 in FEB'19 and since then chart has formed a potential rounding bottom reversal pattern.
In addition since SEP'19 the chart is forming an ascending triangle with the resistance line around 56.60
Also worth mentioning both MACD and RSI have shown signs of positive divergence since the bottom in FEB'19
Look for a sustained BREAKOUT AND CLOSE above the resistance at 56.60 on the weekly chart ( ideally a CLOSE above the highs at 57.50 will be more powerful )
Targets:
T1 - from the ascending triangle breakout is around 62.95
T2 - from the breakout of the rounding bottom reversal is around 73.35
Good luck,
TA
Trade active:
T1 reached
Congrats longs,
TA
Congrats longs,
TA
Trade closed: target reached:
T2 reached
Congrats longs,
TA
Congrats longs,
TA