What Next for Activision Blizzard, Inc. (ATVI) After Forming Wedge Up Chart Pattern?

September 17, 2017 - By Michael Collier

Investors sentiment decreased to 1.08 in Q4 2016. Its down 0.31, from 1.39 in 2016Q3. It is negative, as 73 investors sold Activision Blizzard, Inc. shares while 204 reduced holdings. 106 funds opened positions while 193 raised stakes. 631.68 million shares or 1.57% more from 621.89 million shares in 2016Q3 were reported.
M&R Capital Mgmt owns 16 shares or 0% of their US portfolio. Ci Invests Incorporated holds 4.55% in Activision Blizzard, Inc. (NASDAQ:ATVI) or 5.25M shares. Calamos Wealth Lc holds 31,727 shares or 0.18% of its portfolio. Moreover, Glenmede Commerce Na has 0.3% invested in Activision Blizzard, Inc. (NASDAQ:ATVI). Navellier And Assocs Incorporated stated it has 0.04% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Bnp Paribas Arbitrage Sa holds 0.02% in Activision Blizzard, Inc. (NASDAQ:ATVI) or 141,660 shares. Pictet Asset has 553,984 shares for 0.07% of their portfolio. State Of Tennessee Treasury Department accumulated 290,393 shares. Rosenblum Silverman Sutton S F Inc Ca has invested 2.77% in Activision Blizzard, Inc. (NASDAQ:ATVI). Green Square Limited Liability holds 0.1% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI) for 13,813 shares. Granite Inv Ptnrs Limited owns 161,173 shares. Covington Inv reported 19,635 shares. Moreover, Bessemer Group Inc Inc Inc has 0% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 8,436 shares. Raymond James And Assoc owns 370,278 shares. Fmr Limited Liability holds 111.48M shares.

Since March 28, 2017, it had 0 insider buys, and 2 selling transactions for $22.06 million activity. $20.96M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by KELLY BRIAN G on Tuesday, March 28.

The stock of Activision Blizzard, Inc. (ATVI) formed an up wedge with $70.85 target or 9.00 % above today’s $65.00 share price. The 5 months wedge indicates low risk for the $49.07 billion company. If the $70.85 price target is reached, the company will be worth $4.42B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.26% or $0.17 on September 15, reaching $65. About 16.17 million shares traded or 172.68% up from the average. Activision Blizzard, Inc. (NASDAQ:ATVI) has risen 47.83% since September 17, 2016 and is uptrending. It has outperformed by 31.13% the S&P500.

Analysts await Activision Blizzard, Inc. (NASDAQ:ATVI) to report earnings on November, 2. They expect $0.44 EPS, down 4.35 % or $0.02 from last year’s $0.46 per share. ATVI’s profit will be $332.17 million for 36.93 P/E if the $0.44 EPS becomes a reality. After $0.51 actual EPS reported by Activision Blizzard, Inc. for the previous quarter, Wall Street now forecasts -13.73 % negative EPS growth.

Activision Blizzard, Inc. (NASDAQ:ATVI) Ratings Coverage

Among 26 analysts covering Activision Blizzard (NASDAQ:ATVI), 23 have Buy rating, 0 Sell and 3 Hold. Therefore 88% are positive. Activision Blizzard had 98 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was maintained by Benchmark with “Buy” on Friday, May 6. Jefferies maintained the shares of ATVI in report on Wednesday, June 7 with “Buy” rating. The rating was maintained by Stifel Nicolaus on Friday, October 2 with “Buy”. The firm has “Buy” rating by Cowen & Co given on Friday, August 4. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) earned “Outperform” rating by Credit Suisse on Monday, January 25. The rating was downgraded by Bank of America on Monday, November 2 to “Neutral”. On Friday, August 5 the stock rating was maintained by Wedbush with “Outperform”. The rating was maintained by UBS on Friday, August 4 with “Buy”. Vetr upgraded it to “Buy” rating and $29.51 target in Wednesday, September 2 report. BMO Capital Markets maintained the stock with “Hold” rating in Friday, August 4 report.

More notable recent Activision Blizzard, Inc. (NASDAQ:ATVI) news were published by: Seekingalpha.com which released: “Blizzard launching esports venue on ‘Tonight Show’ stomping grounds” on September 07, 2017, also Seekingalpha.com with their article: “The Future Of Gaming: Activision Blizzard” published on September 01, 2017, Seekingalpha.com published: “Activision Blizzard: DCF Analysis” on August 22, 2017. More interesting news about Activision Blizzard, Inc. (NASDAQ:ATVI) were released by: Fool.com and their article: “3 Things Investors Missed in Activision Blizzard Inc.’s Quarterly Report” published on August 28, 2017 as well as Nasdaq.com‘s news article titled: “Activision Blizzard Releases Destiny 2 for PS4 & Xbox One” with publication date: September 07, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.