ATVI Trade Update

Member @retireat60 requested an update on the ATVI (Activision Blizzard) Active Short Trade. ATVI has been consolidating within a triangle pattern just above the T2 support level after hitting that second price target on Dec 1st. Should the pattern break to the upside, the first resistance comes in around 37.70 while a downside break of the pattern & the T2 level would open the door for a move down to T3. Previous & updated daily charts:

Typically, symmetrical triangle patterns break in the direction leading up to the formation of the pattern although this one could break either way, especially considering the fact that Activision has already exceeded the measured target for the bearish rising wedge pattern on the daily time frame. However, the bigger picture (weekly chart) indicates that ATVI may be in the early stages of a new primary down trend & appears to have formed a bearish pennant continuation pattern just above this bull market uptrend line shown on this weekly chart (last one preceded by the previously posted weekly charts):

Jan 4, 2017 10:12am|Categories: Completed Trades - Short|Tags: |4 Comments


  1. retireat60 January 4, 2017 10:33 am at 10:33 am

    Thank you sir.


  2. jrandhawa January 4, 2017 11:27 am at 11:27 am

    Randy i request you whenever you draw a chart please show 20,50 & 200 SMA in it to see what is going on a short to longer term basis in the same chart rather than I go on to other chart to look for it.
    Thanks in advance.


    • rsotc January 4, 2017 1:04 pm at 1:04 pm

      I actually have the 200, 50 & 20 period moving averages (although I typically prefer & use the EMAs over SMAs) on my daily charts. However, I’m a big believer in keeping charts as clean & clutter-free as possible so I have all 3 of those ema‘s muted down where I can just barely make them out. That helps me to get a better visual on the price action.
      Depending on your monitor resolution & brightness, you should be able to see the 200-ema (red line) & may or may not be able to see the 50 & 20-emas (you’ll see their color settings on the upper left of the chart just before the label for “Vol at Price”).
      I just increased the brightness/visibility on each so you should be able to make them out going forward. I also recent changed the software for viewing the charts where you can now zoom in & pan on the charts. I post some details on how to do so soon.


  3. jrandhawa January 4, 2017 1:31 pm at 1:31 pm

    Thanks Really appericite you.


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