NEW BULLISH Plays
Activision/Blizzard Inc. - ATVI - close: 14.98 change: +0.12
Stop Loss: 14.49
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 13, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 10.3 million
New Positions: Yes, see below
Why We Like It:
2013 has been a good year for video game giant ATVI. The stock has soared following its Q4 earnings results. Shares have broken out from a three and a half year limbo inside the $10.00-13.50 trading range.
We think this strength continues with ATVI on the verge of breaking out past potential round-number resistance at the $15.00 mark. Today's high was $15.05. I am suggesting a trigger to launch small bullish positions at $15.15. We want to keep our position size small because ATVI is still arguably overbought in spite of the recent sideways consolidation. If triggered our target is $16.75.
FYI: The Point & Figure chart for ATVI is bullish with a long-term $24.50 target.
Trigger @ 15.15
Suggested Position: buy ATVI stock @ (trigger)