KAS109
Short

Electronic Arts Short Idea

NASDAQ:EA   ELECTRONIC ARTS INC
Lackluster sales on Star Wars game. Missed EPS . Recent insider selling. Weak income statement with YOY operating margin increase and net profit margin decrease. Technically EA had a lower closing price and could not penetrate supply area today despite a + news release yesterday. Buyer sentiment is still positive tho. Counting on increasing volatility and weakness in the overall market I would expect a drop . ATR is 3.6.
Trade active
Trade closed: target reached
Any thoughts on the current market?
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KAS109 FallingReign
@FallingReign, I'm still bearish on this stock, maybe set up a good short sell near the 50 MA? I haven't traded this one in awhile. It sure seems to suck up the buyers tho, not sure why video games so great and so much competition, free apps, etc.
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@KAS109, 50MA seems to allign with the top of the ichimoku cloud so I think you might be right on that one. We did break out of the descending channel but we still have some resistances in play.
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