ATVI - Bullish flag formation

Apr 21, 2020

ATVI has definitely showed its strength in the past month and needs exhaustion. The $64.4 area looks to be a critical point for ATVI, as it looks to rest for the next couple of days to retest previous highs. If we look at the area near May 1st, you can see that ATVI has strayed a bit too far away from the 50MA and needs to comeback to touch. If you extend the moving average in its given direction, you can see that it goes through that $64.4 level near May 1st -( maybe 2 days before) going in that upwards direction. Also take note of the uptrend channel as the price has broken out upwards and needs to retest which should also happen around the lasts days of April. Lastly as stated before, the price needs interaction with the moving average sooner than later and usually when prices test an uptrending 50MA they bounce off in an upwards direction.