Ichimokou: ATVI weekly TK Recross? It appears that Activision is about to do a TK Recross (above cloud) on the weekly chart.
TK Recrosses are some of the most bullish signals I know, and some backtesting seems to show that it has been a successful signal for entering longs.
In my opinion, we could be about to see another TK Recross. What I find peculiar about this one is that it looks quite similar to the one which happened in January 2017 and led to a 45% increase in price.
"Whatcha think?"
Note: I'm quite new to trading, but I want to mention that I owe most of what I know about trading the Ichimoku cloud to @Iamsatoshi. If you agree with my views or want to know more about cloud trading you should definitely check his channel.
ATVI trade ideas
Activision. ATVI. w50 2020. Long from 87 to 110. RR 4Monthly
Uptrend
POssile breakout - no strong volume confirmation = unproven
Weekly
Cup and Handle Pattern - could possibly go long
Daily
Good earnings push price UP.
Price above SR level, good volumes.
Good conditions for long but only on pullback. (FIB 0.5
Also due to holidays I expect earnings increase.
OPEN LONG 87
SL 81.5
TP 110
RR 4
$ATVI Plotting a Trendline Breakout TradeA trade setup that I shared here that ended up a text book setup. For education purpose, I've annotated on the chart my thoughts as to why the stock was on my watchlist, and when I entered and exited the trade. I'm hoping these trade examples provide some type of coaching for newer traders.
The market always gives new opportunitiesThis time, is in the gaming industry. I missed the breakout in NASDAQ:TTWO so now I'm watching NASDAQ:ATVI very closely ($ATVI has a better YTD than NASDAQ:EA ). This time I think I will catch the breakout, all my rules are been followed: good buying volume, price above key MAs and good divergence with the RSI. This is almost to perfect to miss, but as always anything can happen so I will wait for it. Even so, as the market it's been to volatile I won't buy to aggressively.
$ATVI Activision Bull-Flag Breakout Underway
4 month bull flag 🚩 Breakout underway.
Currently sitting under Volume shelf (daily ) resistance @ $83.75
Alert set for break of that line.
Next resistance $85.00
We got to aim for all time high as holiday season boosts the industry.
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ATVI - trading it to $100+Note from BoA Global Research on 11/23/2020:
"We continue to see ATVI as having the most compelling multi-year pipeline in the group with strong geographic and platform expansion. The next catalyst for the stock will be the launch of World of Warcraft expansion (Nov 27th) and we anticipate Call of Duty Mobile launch in China sometime early in 2021. We believe investors are already looking beyond 2020, and by speaking to 2021, ATVI addressed an overhang for the stock that we are heading into a down year light on content. Despite COVID comps, we still see reason for investors to anticipate EPS growth in 2021 driven by the Blizzard and CoD franchises."
Activision Blizzard is break out of cup and handle patternNASDAQ:ATVI is breaking out of the monthly cup and handle pattern and is targeting 125$. This is long term trade that requires patience, stop around 68$. I would enter after the stock breaks and close above 90$.
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This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!