ACTIVISION BLIZZARD STOCK RISES ABOVE MA5 ON RATING UPGRADE
Activision Blizzard’s stock is currently trading at 53.41-higher by 4.62% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by about 3%. The stock has continued gaining after the opening bell.
BMO Capital Markets upgraded the video game maker’s stock to outperform from market perform. The investment bank also raised its price target to $60 from $43. BMO hiked its earnings estimates for next year on its strong conviction that the video maker’s restructuring efforts and investments in core games will boost financial performance.
On the technical front, the RSI is currently at 66.28% and suggests that the market can move in the upward direction. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 79% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 53.20 TAKE PROFIT AT 54.00 STOP LOSS AT 52.80