Activision Blizzard (ATVI) is a video game company based out of California. It operates game studios and develops games for gaming consoles, PCs, and mobile phones. ATVI is a Fortune 100 company famous for games like Call of Duty and World of Warcraft. The gaming industry is projected to grow significantly over the long term and ATVI, being one of the biggest players in the industry, has bright long-term prospects.
The 10-year monthly chart demonstrates the clear uptrend which has been ongoing since 2013. The stock broke that trend and fell by 45% towards the end of 2018. Since then, it has risen about 50% over a 1-year period. It has also bounced up from the bottom of its longer term trend.
In April, the price crossed a crucial support level which had formed over an 8-month period in 2017 and 2018. The longer target price is now the top of the long-term trend at $100. Stop loss can be placed slightly below the support line (shown by the dotted red line) at $ 50.
Position taken at $59.87, Stop loss at $49.29 just below the long-term yellow trend line. And the shorter-term trend line indicated by the dotted red line at $50. Take profit point at $72 represents 21% profit.