ThinkingAntsOk

ATVI, Can we expect a short-term bullish impulse?

NASDAQ:ATVI   Activision Blizzard, Inc
Today we will take a look at ATVI:

a) Since February 2021, the price has been on a correction or a bearish trend (depending on how you want to see it), dropping 30%.

b) The price has bounced on a support level , where we can be open to the idea of a new short-term bullish movement. IF the following items happen as expected (70.00 / 72.00)

c)Another important detail is the corrective pattern on the edge of the broken descending trendline

d) Alright, our bullish thesis goes like this: IF the price reaches the green horizontal line, we will consider it confirmation for the bullish movement towards the first target at 87.50. Eventually, we may see a second target at the descending trendline of 91.90 / It's important to be open to possible retracements or reversions.

e) Our invalidation levels are below the corrective structure (yellow lines) either if the price reaches our activation line first or if the price keeps falling from where it is right now.

f) The expected duration for a movement like this goes between 45 to 60 days.


Thanks for reading, don't hesitate to ask any questions in the comments or share your view about this stock.




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