Activision Needs a Blizzard of Volume to Trust in Higher Price Targets

Activision Blizzard (ATVI) soared more than 5% to the upside yesterday. Impressive. It almost made a new high. Volume was okay, but not what I would call "table pounding" or escape velocity. Prices look like they will make a new high today, so let's check out the latest charts and our favorite set of indicators.

In this daily bar chart of ATVI, below, we can see that prices made two pushes down to test the $56 level/zone and the stock has pushed up three times into the $60-$62 zone. The price action since early June might be called a box pattern, or a variation of a rectangle formation. A breakout to the upside would mean we can take the height of the pattern, or roughly $5, and add it to the breakout around $61 for a $66-$67 price target. Prices are above the rising 50-day and the rising 200-day moving average lines....182 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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