Bullish – ATVI $47.65 – Communications
The bullish DailyPlay we chose for Thursday, April 4th is Activision (ATVI). ATVI is part of the Communications Sector (XLC). XLC has rallied 2.75% higher over the past month and its 1m trend turned bullish on April 1st while breaking above its $47.50 resistance level.
Activision’s 1m and 6m trends turned bullish and neutral on March 18th and recently bounced higher off its $46 support level. With a technical score of 2 (out of 10), ATVI is a weak stock that is starting to trend higher.
As a stop loss, if ATVI was to trade below $46 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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