Video Game Stocks Under Selling Pressure: Here's The Trade
InTheMoneyStocks.com | Dec 03, 2018 04:44PM ET
As you know, all of the leading video game developers have been under selling pressure since October 2018. Video-game-developer stocks like Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA) and Take-Two Interactive Software (NASDAQ:TTWO) traded sharply lower again on Monday. When a stock fails to catch a bid when the market is rallying, it is usually a sign of further weakness.h3 Swing-Trade Watch/h3
Activision Blizzard is breaking its 200-week moving average, which puts the stock on my radar for further near-term weakness. The next major support level that I see for this stock is around $40 – a level where the stock broke out in February 2017. If ATVI back-tests this level, it should lead to a nice swing-trade opportunity.
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