ATVI: Rounded Bottom with Dark Pools Waiting
Activision Blizzard Co is developing what will become an intermediate-term rounded bottom formation, aka bowl bottom. It is about 25% to completion. Large-lot indicators have not formed a shift of sentiment pattern yet, as smaller funds’ VWAP orders continue to trigger in capitulation mode. The smaller funds are giving up on ATVI as it bottoms. The Dark Pools will wait to see if the stock will drop further due to the smaller funds dumping before they decide where to set their TWAP orders. ATVI is a gaming company that is gearing up for Augmented Reality.
Martha Stokes, CMT
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