To keep this short, EA has broken through its downtrend line. MACD is pointing up, but looks a little rich on the 1 hour chart, so there might be a nice pullback at the start of the week. I closed my open long position Friday for this potential pullback, but I will be long when it either pulls back and bounces or if it keeps running.
NOTE: I will not hold this stock after late October! Earnings are at the end of the month and Battlefield release is shortly after in November. Both of these could be a negative catalyst on the stock, and with the recent history of why they sold off twice in the past 2 months, I am not bullish on either news catalyst. I plan to close any positions by 10/26 or so.
NOTE: I will not hold this stock after late October! Earnings are at the end of the month and Battlefield release is shortly after in November. Both of these could be a negative catalyst on the stock, and with the recent history of why they sold off twice in the past 2 months, I am not bullish on either news catalyst. I plan to close any positions by 10/26 or so.
Comment:
The pullback has been uncomfortable on present positions, but a bounce at this level will in my opinion be a hold and buy point for this month.
Trade closed: stop reached:
This obviously did not go my way. Oh well...