Electronic Arts testing trend line and $100Being stuck in this falling range for a while, EA is testing top of the range again, a break of line and $100 is a good buy signal. Recent swings give a good stop level and risk-reward.
As part of S&P500, this gaming giant has a $28.48B market cap. Price target of most banks and investment funds in this stock is around $120 and higher.
Alternatively if we see a rejection from the trend line, short is possible with a stop above $100 with a buffer.
Good Luck!
ERT trade ideas
EA Looks Poised to Break OutNASDAQ:EA - After a surge from late December to mid February, the stock embarked on a long correction as it retraced around 61.8% of this advance with a falling channel. EA established support in the 88-90 area in July-August and held above this support zone during September-October pullback. Thus, a higher low is taking shape and this could be the start of another leg higher. The stock broke above the red resistance zone this week and I expect a break out of the big falling channel.
Three Percent Trade Idea: Go long EAHere is a great opportunity to go long on EA.
At Three Percent Trades we have a price target of $130.00 / share, which is a potential upside of 32.4% from the current level.
We use a combination of fundamentals & technical analysis to trade high probability set-ups, and believe this is a great opportunity to take advantage.