Ready for reversal and retest of ATHAfter a failed breakout and a pullback, oversold conditions may prompt this reversal. A long-legged Doji on the daily is further indicator of this. Fib levels drawn from recent highs to lows provide support and resistance levels, additional stop loss could be set to previous day's lows or percentage based on your risk level. Ideal entry would be retest of the entry fib as it may gap up over it.
Videogames
ZNGA Melting UpThrough the pandemic it has been no secret that video game stocks like ATVI and EA are very strong performers since so many people are stuck at home. But you don't hear much about ZNGA, even though it fits the same mold and has been on a great run lately. On top of that, they made a great acquisition lately which will grow the user base and demonstrates management's hunger for growth. IMO the chart is looking very bullish and currently melting up towards $10.
Positions:
Have been holding the 1/15/21 $10c since the stock was $7.50 in late April. Currently up 100% and gaining.
Target: sell when ZNGA hits $11 region - expecting in Q3. Depending on price action I might hold 1 contract to actually exercise. I like the long term story too.
Reassess if turns decisively back to $8ish
Activision - Possible BreakoutFor the past week and a half, ATVI has successfully consolidated in the highlighted zone. With the Call of Duty Mobile World Championship kicking off on April 30th presented by SNE and lasting until May 24th, the price may breakout upwards on investor confidence of the revenue generated by the broadcasting of the Championship this upcoming week. Also with the stay at home order in place for the time being people are playing more video games than ever and will continue to do so in the foreseeable future as technology continues to advance and the coming releases of the PS5 (SNE), and the Xbox Series X (MSFT) on the horizon.
Imagine not buying Tencent Best fundamental long term video game company.
It is already clear Valorant is going to be a huge game, even though it is still in Beta.
If the overall markets werent in limbo with COVID going on this stock would be much higher.
I expect when things recover this company will be a red hot stock...
Overall the chart on the weekly looks to in a great bull trend. I will ride this play out for months to come.
Will probably consider adding over time. Anything under $54 is free money in the long run..
Buy EA NowHello!
EA will grow this year. Chineese will play games at home while coronavirus spreads outside their homes. So I m sure EA revenue will grow thanks to the epidemy.
Moreover EA will grow just thanks to it Live-services that helps to raise microtransactions amount among players (70% of its revenue in 2019).
I wish a good luck China and the whole world in fighting the epidemy.
TTWO target $145 Oct 19th on Red Dead Redemption 2 marketingWith about 36 days until release and a embargo lifted today for journalists to mention greater details I believe Rockstar Games and parent Take Two Interactive will begin heavier marketing tactics for the biggest game to release since Grand Theft Auto V. This game is largely staying under the radar due to clandestine marketing techniques, but I believe there is likelyhood is could be the game of the decade, and cause video games as a whole to transcend boundaries.
Disclosure: I am LONG TTWO with shares and options. $130/135/140 Strike with October 19th expiration Calls.
The Gaming Trade - Video Game and Esports Stocks - September 1.0The Gaming Trade
The gaming trade tracks gaming & esports stocks. With a combination of technical and fundamental analysis I attempt to provide the best ways to profit off of these companies in the stock market. My style is a blend of classical charting, candlestick reading, trend trading and a bit of price action. My decisions are based on how the daily, weekly & monthly charts display the current status of the stock. I will do my best to provide insight on profit taking points and breakouts on my Twitter account: @TheBegonis - I use no leverage in this tracking account.
(Note this was created on 9/4/18)
I will be publishing this bi-monthly. One short-form chart update and one long-form newsletter with chart updates.
AMD: Price $25.17
This has been on fire! After completing an 11-year cup & handle it looks like it will need to cool down a bit -- especially because of the HUGE shooting star on the weekly chart. Look to buy the upcoming pull back and consolidation. This will be rolling once again soon enough.
Based on the daily chart - look for a potential pull back to the 50SMA around $21.50 - however price is holding above the 9DEMA (not pictured). If you want to play the potential Bull Flag on the Daily - set a tight stop Just below $24 with a price target around $30
ATVI: Price $72.10
Activision-Blizzard has been in a rising channel since October '16. The stock peaked at the upper resistance line of $81.60 and pulled back to the lower support line. The stock will be in for some choppy trading for a while until the Weekly closes above$75.53 and the Monthly closes above$75.40
EA: Price $113.41
Electronic Arts is showing big weakness at the moment. The huge red candle on the monthly chart is resting on the SMA. This has been in a rising channel since November 2015 and is the first major break in either direction from it. If this doesn't bounce back the next area of support will be $105. Be careful, this has a falling knife quality to it at the moment.
TCEHY: Price $43.14
Tencent is trending south right now. It is currently resting on the SMA of the monthly chart. After a huge hammer back the week of August 13th - price continued to fall and broke below the close of that hammer just two weeks later. Price needs to close back above $49.50-$50 area to change the current down trend. At the moment, a possible area of support could be found in the $36 area.
ZNGA: Price $4.16
Zynga has been slowly moving within a rising channel since February of 2017. Price decisively closed above $3.99 on the weekly locking in the upward trend. It is probably too late to enter a trade as the target is $4.55. This is a stock worth following for the long term - I find the price movements to be reliable - for the time being.
I'll try to do better the next time.
Thank you & safe trading!
Spells of Genesis - Mutliplayer Update (21 June) + RumorsHello traders,
Today we have BCY (Bitcrystal) 4H chart.
As you can see the coin was steedy rising since the start of the month due to the upcoming launch of the game multiplayer + content update (5 new levels).
Plus there's a rumor on the BTCT about a Geneve conference the 22 June (bitcointalk.org).
As allways, buy on rumors sell on news ? :)
I'm confident about this trade and I'll keep updating this post.
TP's are :
Prudent trader: 0.00029
Optimistic trader: 0.00040 +
Stop Losses @ 0.00018
PS: That's only my opinion, please do not copy position if you have a doubt about this.
PPS: If you decide to enter long, I hope we'll make money together.
As allways please trade only what you can afford to loose :)