S&P 500 Market Outlook: Bullish
Bullish Trade: ATVI $54.09 – Technology
The bullish DailyPlay we chose for Thursday, Nov 21st is Activision (ATVI). ATVI is part of the Technology Sector (XLK). XLK has rallied 8.05% higher over the past month and its 1m and 6m trend turned bullish on Oct 10th while breaking above its $86 resistance level.
Activision’s 1m and 6m trend turned neutral and bearish on Nov 7th but recently bounced higher off its $52 major support level. With a technical score of 9 (out of 10), ATVI is a strong stock that will likely continue higher.
As a stop loss, if ATVI was to trade below $52 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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