Beginner Analysis of Activision
After looking at the S&P I thought it had a pretty healthy and slow growth over the past weeks. I then wanted to search for stocks that were in the S&P and because I love video games I took a look at Activision (ATVI). I was looking through it and noticed that it was reaching new support levels and had a nice 45 degree growth at each support. The new supports happened every 3 points increase in the stock. Right now the stock has dropped a little bit, but it is close to what I think is the new support line. It is also showing a small wedge pattern. That in combination with the stable growth in support I can see the stock breaking out to at least 2 or 3 points above where it is now. I ended up buying two call options because of my strong belief in this stock. As long as I am right about direction and speed, I will make at least a 200% return on my investment. I am completely new to this and have only been looking at charts for a month, but I really am confident in my approach to this stock.
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