After the investment made on Activision last week, today I bring you an analysis on EA (Electronic Arts).
The mother of Fifa and Madden (for those who were not interested in video games, let's talk about the company's core business), ended a long accumulation phase that lasted from December 2020 on Friday, when the price broke the support structure in the $...
Monitoring possible break out of the structure.
EA is below strong resistance level. If breaks up, and make valid retest, then is good time to entry.
E-sports industry is growing every year and this bussines has a big potentional.
Regular dividend payment is nice bonus.
Target is around 170-180 USD
Mega freaking rising wedge, if it does breakout the pump could be massive, a la NVIDIA.. What could be the catalyst I wonder... what if will announce NFTs? High risk high reward play, watch for the market and a possible correction in the next weeks. Time frame uncertain, could be weeks..or longer.
Stop loss if breaks major trendline.
All major daily EMA...
$EA consolidating on big triangle, giving us chance for entry here on this higher low. It found support on the .618 retracement + the lower trendline. I like entry here, with tight stop aiming for top of triangle first and will monitor closely for a breakout
With the stay-at-home orders still in place and many spending majority of their time at home, video games are seeing a surge in player activity. EA seems to be moving and "potentially" formed a Cup & Handle pattern. Would like to see a confirmed break above the $128 resistance on the daily chart, then a weekly close above $147.
Being stuck in this falling range for a while, EA is testing top of the range again, a break of line and $100 is a good buy signal. Recent swings give a good stop level and risk-reward.
As part of S&P500, this gaming giant has a $28.48B market cap. Price target of most banks and investment funds in this stock is around $120 and higher.
Alternatively if we see a...