ACTIVISION BLIZZARD STOCKS RISE ON RATING UPGRADES
Activision Blizzard’s stock is currently trading at 43.69-higher by 3.31% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 4.89%. The stock has pared some of its earlier gains after the opening bell.
Investment bank Goldman Sachs upgraded the videogame producer’s stock to buy from neutral. The bank also raised its 12-month price target to $54 per share from $50. Goldman Sachs added it to its conviction list.
The bank said that forthcoming Blizzard title announcements create the potential for earnings upside. The videogame producer could increase new paid content options for “Overwatch,” and launch a “Call of Duty” mobile game. Stocks of Activision Blizzard have dropped 5% so far this year.
On the technical front, the RSI is currently at 43.4% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 43.60 TAKE PROFIT AT 44.02 STOP LOSS AT 43.40