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Video games sales grew 6% in March after two months of more than 10% declines. This bodes well for Activision Blizzard (ATVI). ATVI upped its full year earnings last week citing strong demand for games like World of Warcraft and Call of Duty: Modern Warfare 2. ATVI not only expects to earn 72 cents a share for the year, it plans to buy back up to $1 billion worth of stock and starts to pay dividend.
In looking at 1 year chart, ATVI hasn’t really performed well mainly due to quarterly loss as revenues declined. There is an upward trend line that now is acting as a resistance level. I am expecting ATVI to break this resistance level with the new optimism in gaming industry. Now would be a great time to be going long on ATVI.
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