If you've been buying ATVI since my call at the beginning of the year at ~44-48, right now is a good time to add on to the position. They beat across the board on their earnings call, and the stock reacted negatively. It reached ~87.50 before bouncing off the trendline and reversing at ~79.
Daily technicals show us an oversold Stochastic RSI, Volatility and momentum measured by the RVI is bouncing at 40 and turning back up. The MACD is indicating the price is oversold and in an uptrend.
From a fundamental perspective, Activision Blizzard has an entire content cycle coming up and there's no reason to think they will not continue to impress on their earnings and grow.
Their upcoming catalysts include new releases of Call Of Duty, World Of Warcraft, Diablo 4, and Overwatch 2. In addition, the new hardware cycle for console (Xbox/Playstation) will assist in driving sales for ATVI's new content.
Also, it's worth noting that ATVI has had been able to penetrate the mobile gaming market with Call Of Duty mobile and still has plans to release a Diablo game for mobile.
The mobile gaming market is important because it is forecasted to grow at a much quicker rate than the gaming over the next few years and many other publishers are lagging behind when it comes to capturing market share of the mobile gaming market.
Daily technicals show us an oversold Stochastic RSI, Volatility and momentum measured by the RVI is bouncing at 40 and turning back up. The MACD is indicating the price is oversold and in an uptrend.
From a fundamental perspective, Activision Blizzard has an entire content cycle coming up and there's no reason to think they will not continue to impress on their earnings and grow.
Their upcoming catalysts include new releases of Call Of Duty, World Of Warcraft, Diablo 4, and Overwatch 2. In addition, the new hardware cycle for console (Xbox/Playstation) will assist in driving sales for ATVI's new content.
Also, it's worth noting that ATVI has had been able to penetrate the mobile gaming market with Call Of Duty mobile and still has plans to release a Diablo game for mobile.
The mobile gaming market is important because it is forecasted to grow at a much quicker rate than the gaming over the next few years and many other publishers are lagging behind when it comes to capturing market share of the mobile gaming market.
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