ACTIVISION BLIZZARD STOCKS RISE ON RATING UPGRADES
Activision Blizzard Inc.’s stock is currently trading at 56.46-higher by 2.82% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 2.71%. The stock has continued gaining after the opening bell.
Nomura Instinet upgraded the video-game maker’s stock. The firm upgraded Activision Blizzard’s rating to buy from neutral. Nomura also hiked its price target for the stocks of video-game maker to $64 per share from $49 a share.
The firm upgraded Activision Blizzard’s share citing momentum from the August launch of World of Warcraft Classic and positive reception surrounding the next month launch of Modern Warfare. Nomura believes promising outlook in the Call of Duty franchise, the launch of city-based esports in 2020 and a potential developer reshuffle for the 2020 title gave increased prominence to the series’ strongest developer.
On the technical front, the RSI is currently at 69.62% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 56.20 TAKE PROFIT AT 57.40 STOP LOSS AT 55.60