I think Activision has possibly put in a bottom here. We saw a massive downside move that aligned exactly with the Diablo mobile announcement at Blizzcon, which in my opinion was a knee-jerk selloff. We saw climactic volume at the bottom (classic bottom signal) and have a multi-month bull div forming on the daily RSI. Short term action looks like a bull flag and the bulls seem to be controlling the volume (always a good sign when you're looking to get long). I normally take fundamentals with a grain of salt but being a longtime Blizzard fanboy, I think the Blizzcon selloff has put ATVI at a nice discount and here's why I think that: Blizzard's cult-like following (me included) were upset to hear the Diablo mobile announcement instead of plans for Diablo 4 but from an investor's perspective I'll tell you why it's bullish. The Chinese market is enormous and Activision didn't arrive at the decision to develop for mobile hastily. As much as Blizzard fanboys hate the idea, I think it will be quite successful (along with Call of Duty mobile). Also, and this is only speculation, but I can almost guarantee Activision execs are squirming to get in on this Battle Royale (fortnite genre) cash cow so I strongly believe we will see big announcements soon on this front. The techincals look good to me as well at this point and with that plus potentially good fundamentals on the horizon I like a long here on ATVI. And yes, I realize Blizzard isn't all of Activision, but it's a huge part of it. New expansion coming up in Hearthstone plus World of Warcraft vanilla reboot coming soon has all the fundamentals aligning for a strong showing in the mid term I think. Good luck.
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We'll probably see a small pullback after such a strong day across the board today so no rush to get in here if you're not already long. Personally, I fomo longed a small portion and will go in heavier on pullback.
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only took 6 months of literal sideways but is starting to look more like a real bottom. I think it will pullback from here but she got a nice upgrade today and agree with the analysts' reasoning for it. buy 'le pullbacks