Activision Blizzard skids - Analysis - 28-11-2022

Activision Blizzard's stock (ATVI) skidded in the intraday levels after a report that Microsoft might face an anti-trust lawsuit for trying to acquire Activision, sending the stock down 4.07% in the last session, or 3.12 points, settling at 73.47, with trading volumes surpassing 9.1 million shares, above 10-day averages of 6.1 million shares.

Technically, the stock pierced the support of the 50-day SMA, with negative signals from the RSI after reaching overbought levels, amid the dominance of the downward correctional trend in the short term.

Therefore we expect more losses for the stock, targeting the support of 70.95, provided it settles below 73.70. 

Expected trend for today: Bearish