ATVI Trade on Jan 11, 2019 09:31 from math_psycho: Tradervue User Stock Trades.

TICKER: ATVI
BIAS: NEUTRAL-LONG
SUPP: 43.7, 45, 46, 46.7, 47.5
RES: 48.5, 49, 50, 51-51.3, 53-54
GAP%: -7.3
AVGV: 11M
ATR: 2.09
FS%: 2.38

NEWS: extends 11-year partnership in China. The agreement includes World of Warcraft, the StarCraft series, the Diablo series, Hearthstone, Heroes of the Storm and Overwatch and now extends until January 2023. Activision Blizzard (NASDAQ:ATVI) is off 1.6% postmarket following an SEC filing that notes that game developer Bungie will own and develop the Destiny franchise from here. Bungie developed the game with Activision as publisher for a September 2014 release; it sold through $325M at retail in its first five days of release. Now Bungie will assume full publishing rights and responsibilities, according to the filing. That means "the company does not expect to recognize material revenue, operating income or operating loss from the Destiny franchise in 2019," Activision says.

TRADING PLAN: Look for an early test of support levels around $46.7-47 and buy off of support if levels are holding. A possible flush down could get you in at good prices for the day.

NOTES: Yesterday the stock found support early around $50 and then bought it up all day to resistance around $51.50. Premarket the stock is down significantly given that the bad news only reflects 1% of the market cap. This is probably panic selling of the buyers from yesterday. The stock ended up crashing down to support levels at 45 and I tried a long and got stopped out. I saw it holding up just below $45 and bought in again at $44.73. The rest of the trade was straightforward and the buying was fairly obvious on the tape until my exit at $46.17. I tried the long again at $46.07 when 46 showed support. Sold out at around $46.73 as a noted resistance when sellers came in on the tape.