Acitvision Blizzard (ATVI) is definitely not the best performer during coronavirus crisis, but things might change for the best really soon.
Activision Blizzard shares are looking particularly good now. The value forms a long-term cup formation. If this is successfully dissolved, the shares WILL COME BACK with a huge profit potential.
Activision Blizzard stock has huge potential for a new high. The value is currently at the end of a cup formation. This is considered to be one of the strongest bullish chart patterns ever.
Starting from the multi-year high in October 2018 at $84.68, the stock moved in a U-shape, forming a long-term saucer. In early August, the value then marked a new all-time high at $87.73. From there it consolidates in a sloping channel, which is the handle of the cup formation.
If the value now breaks the upper limit of the channel at around $82, this could give the decisive upward impetus to reach a new all-time high and thus to undo the cup formation. Then the theoretical target price would be around $120.