ACTIVISION BLIZZARD STOCK FALLS ON RATING DOWNGRADES
Activision Blizzard’s stock is currently trading at 51.56-lower by 2.52% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 2.46%. The stock has continued falling after the opening bell.
Brokerage firm Bernstein downgraded the video game publisher’s stock to underperform from market perform. The firm, however, raised its price target on stocks of Activision Blizzard to $43 per share from $41 a share. Bernstein said that it cannot reconcile the current share price with company fundamentals after a 25% jump since late May.
On the technical front, the RSI is currently at 43.05% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the lower band of the Bollinger Bands and is heading downwards.
TRADE SUGGESTION- LIMIT SELL AT 51.65 TAKE PROFIT AT 51.00 STOP LOSS AT 51.98