ATVI is a buyout target for MSFT. But recent regulatory hurdles has put some doubt in the deal.
In this week’s chart, I’ve outlined the gap lower in ATVI’s stock with the big orange box (go VOLS).
This move has pushed ATVI to retest my Roadmap Line.
If we can get a daily close above the high from Apr 26 (indicated by the red arrow) then we could see ATVI rally back up to the point from which it dropped around $86.
A move above 87 would indicate we could even see $90 on ATVI.
But wait for the close above the Apr-26 high though, because this pattern is void if the price makes a lower low.
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Jeffry
