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Activision Blizzard Stock May Have Bottomed Out

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Jun. 10 2019, Published 11:15 a.m. ET

Activision Blizzard’s returns

Shares of Activision Blizzard (ATVI) have lost significant value since October 2018. In the last eight months, ATVI has fallen more than 45.0%. The stock is currently trading at $45.38, which is 46.0% below its 52-week high of $84.68.

ATVI stock generated stellar returns between October 2013 and October 2018, when it rose at an annual rate of 37.0%. Last week, we stated that ATVI could have bottomed out, and the stock has since gained 7.0%.

Shares of peer companies Take-Two Interactive (TTWO), Electronic Arts (EA), and Zynga (ZNGA) have generated returns of -19.0%, -17.0%, and 61.0%, respectively, since October 2018.

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What do the technical indicators suggest?

ATVI stock is trading at $45.38 per share, which means that it’s trading at the following levels:

  • 0.3% above its 100-day moving average of $45.25
  • 1.0% below its 50-day moving average of $45.86
  • 2.8% above its 20-day moving average of $44.15

RSI and MACD

ATVI has an MACD (moving average convergence divergence) score of 1.17. A stock’s MACD marks the difference between its short-term and long-term moving averages. ATVI’s positive MACD score indicates an upward trading trend.

ATVI stock has a 14-day RSI (relative strength index) score of 53, which shows that its stock is trading marginally close to overbought territory. An RSI score of above 70 indicates that a stock is overbought, while an RSI score of below 30 indicates that a stock is oversold.

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