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- 1 ATVI stock price is trying to sustain and continue its surge towards the $100 mark.
- 2 ATVI shares are trading above 20, 50, 100 and 200-days daily moving averages.
- 3 Activision Blizzard Inc. (NASDAQ: ATVI) stock has gained more than 20% year to date.
ATVI stock has been trying to sustain at the current level to remain in the recovery phase and reach the $100 mark. ATVI shares need to attract buyers in order to escape the consolidation phase and recover towards the $100 mark. However, sellers are continuously trying to barge ATVI share price to revert the upside trend.
Meanwhile, ATVI stock price needs to attract buyers during the day’s trading session for ATVI shares to maintain in the recovery phase. Activision Blizzard stock has gained maximum on July 11th and has been consolidating after recovering significantly over the daily time frame chart. Now, investors in Activision Blizzard Inc. (NASDAQ: ATVI) stock need to wait until ATVI shares break out of the primary resistance.
ATVI stock price was $92.03 at press time and lost 0.01% of its market capitalization during Tuesday’s trading session. Trading volume is below average and needs to grow during Wednesday’s trading session, demonstrating that the accumulation rate of buyers is not up to the mark.
Analyzing Technical Indications For Activision Blizzard Inc. ATVI Stock:
The stock price of Activision Blizzard Inc. has gained maximum from the start of 2023 and is currently trying to recover back towards the $100 mark. However, volume change can be seen below average and needs to grow during Wednesday’s trading session. Meanwhile, ATVI shares are trading above 20, 50, 100 and 200-days daily moving averages.
ATVI stock price has gained 0.31% in a week and 0.38% in a month. Moreover, ATVI share price rose by around 13.79% in the last three months and 15.28% in the last six months. ATVI share price managed to recover around 20.15% year to date.
Technical indicators suggest ATVI stock is in a consolidation phase. Relative strength index and moving average convergence divergence both confirm the sideways momentum of ATVI shares.
RSI was at 63 and is struggling below the overbought territory. The MACD line is overlapping the signal line waiting for any type of crossover. Investors Activision Blizzard Inc. (NASDAQ: ATVI) needs to wait until ATVI share price sustains at the primary resistance level of $93.02.
Summary
Activision Blizzard Inc’s ATVI stock has been trying to sustain at the current level to remain in the recovery phase and reach the $100 mark. However, volume change can be seen below average and needs to grow during Wednesday’s trading session. ATVI share price managed to recover around 20.15% year to date. Technical indicators suggest the consolidation phase of ATVI stock price. Investors Activision Blizzard Inc. (NASDAQ: ATVI) needs to wait until ATVI share price sustains at the primary resistance level of $93.02.
Technical Levels
Support Levels: $91.75 and $91.35
Resistance Levels: $93.02 and $93.85
Disclaimer
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Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
