ATVI Potential Cup & Handle

3 Nov 2020

Chart: ATVI seems to have been developing a very wide Cup & Handle formation since its late 2019 crash. The March Coronavirus-induced crash may have negated the trend, but overall it still seems to hold. September highs to today have set up a nice handle formation. Any breakout above $84 (very likely post Election) could confirm this thesis and set the stock on a strong bull run.
Business: The stay-at-home benefits are still to be priced into the business. Recent success with new launches are yet to be accounted for. If the delay in releasing the new gamma is resolved earlier than its February earnings, I see this business going into 2021 as a true leader.

What are your thoughts? Thanks

12 Nov 2020

Catatan

This handle is developing nicely.
I had a look on shorter time frames and we seem to have formed quite strong support around $75. If this holds, we can expect to be popping above that downtrend pressure by the end of November

24 Nov 2020

Catatan

$75-77 has really become an accumulation zone.. this is brewing. Not sure it will actually turn out this way as the time frame is really starting to stretch out now, but if it does it will be a very nice pop indeed.

1 Des 2020

Catatan

If this week's candle holds above $78, we may have just had the breakout we've been waiting for. We are likely to test at least $85, if not directly $90 by EOY if so.

Gaming catalysts through 2021 are providing the perfect set-up for a repeat of its 2017-2018 rally.

14 Des 2020

Catatan

This sure looks like the price action we've been looking for!
Keep you eyes peeled for a breakout above ATHs this week to send ATVI to $90 by EOY, and who knows how high through 2021!