EA trade ideas
Oversold looking to move higher after breaking symmetrical wedgeAfter an inside week, EA was on my watchlist this past week and unfortunately fell out of the symmetrical wedge as the market pulled back. Short of a catalyst the low volume was not enough to propel it upward. Closing at just over $130 it seems to have found support from the lowest fib, and with oversold conditions nearly <20 SlowStoch an aggressive and safe entry is provided at the fib levels shown. Most conservative entry would be on a break of the .786 fib with first target above.
EA - Head and Shoulders Possible short play if this is a legitimate head and shoulders pattern. There is a long term uptrend, which makes me skeptical of this actually occurring; but there is always that possibility. Best to wait for some buildup or a pullback to a possible drop.
There was a similar pattern around Dec 2019-Feb 2020, which resulted into an initial short drop, but a subsequent strong pullback to the previous highs—before the sharp drop to 88.4
EA - T.AEA has followed relatively the same path as many software and tech companies since the run up from March forming an ascending channel.
Currently, the price action is testing the support of it's trend, if the support is able to hold and the channel confirms a continuation, the most likely price path is A.
However, if support is unable to hold and the price breaks out of the channel, the most probable price paths are B and C.
As we can see from our price ranges, the nearest support and resistance points offer ~6% on each side, and our further support and resistances offer ~14% on each side.
That means, we have a rough R/R ratio of 1:1.
Indicators suggest choppy price action, the Stochastic RSI passed over 20, but has since stalled out. While the RVI has a low volatility reading, there is still room to fall.
On average, the volume has been falling off since June 20th.
Because of these numbers, the best play here if entering now, would be an exit below the current channel support.
However, if you wait to enter and the price action breaks to the downside, both Support levels would be better buying opportunities. If buying at support, breaks below support should be used as exits.
EA Double Top or PullbackI have never been into video games, but recently I bought a gaming computer and new monitor. As we know gaming stocks have been hot because of the lock down stay at home trade. Just as people became more accustomed to buying online, I think the stay home trade has given birth to a new group of gamers that aren't going to to go away after everyone goes back to work.
EA has earnings in a few days and recently Wells Fargo increased price target to $150 from $120 (but keeps a Equal Weight). I believe more analyst will be forced to raise their price targets soon. Either way EA holding the $135 and 20ma level nicely.
long 135
stop 127
price target 148
EA: Last look for now: RENKO Style...Mostly very bullish on EA right now, RENKO shows us that it is at brink of upwards continuation or back down to build support... Based on my other reads, I'd suggest to go long on this one, but the Renko clearly shows how much EA likes to double top and H&S, so I'd be cautious of these larger bearish patterns. If it can continue up, then we will find more confident entry here soon... worst case, keep a hedge and trailing stop loss, and this one could be easy money!
*KAGI shows this as bearish going into the wkend, but with a strong open next week, this could easily turn bullish again, and then this SHOULD mean that we're about to meet new ATH in near-term.
Let me know if you have any questions!
EA: VERY BULLISH! Monthly actually shows 230 as likely PT 3 !!!The long-term look at the weekly for EA looked very promising, and I give this a 175 PT 1, and 195-200 PT 2, but the monthly actually looks even better! With a solid entry on daily, likely sometime next week, could see this ride up as high as 230 before the market corrects (if it does?)... EA is officially on my radar, along with ROKU, COST, FIVN, and a few others.
EA: Longterm Bulls, get ready to load up! ~175-200 PTLooking back the past couple decades, each time the weekly RSI went over 70, EA saw a nice jump up in Fib... looks like ~175 & ~200 should be the conservative and aggressive PT 1/2
Another Tech stock that makes more sense to me to invest in during this pandemic when we're all mostly indoors... although I'm not sure about overall valuations across the market, in general, this one could easily rocket up if the volume is there. Spread the word, or hold the turd!
V Bottom Broke out a while back/has hit 1st TargetsEA is overbought on daily RSI so thinking a breather may be coming soon. The stock is not overbought on the weekly and monthly RSI, but I have mine set on 90 and 10
No rising wedges that I can see and a healthy monthly candle.
Strong support is getting farther and farther away, but I see support around 135ish, 128ish, 122ish, then 115ish. She may only pull back to 137.5ish. Wish I knew (o:
Earnings are on 7-30 AMC
EA beat on 5-5 but there were some issues with subscription quantity (or something..lol) I forget the complete story, but it did cause a pull back but I hung on to the stock anyway. I am glad I did
Short percent relatively low
Not recommending to get in to this now even though I do own EA
Electronic Arts Inc. develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v. Zombies brands; and license games from others, including FIFA, Madden NFL, and Star Wars brands. It also provides advertising services; and licenses its games to third parties to distribute and host its games. The company markets and sells its games and services through digital distribution and retail channels, as well as directly to mass market retailers, specialty stores, and distribution arrangements. Electronic Arts Inc. was founded in 1982 and is headquartered in Redwood City, California.
ELECTRONIC ARTS INC: TAKE OFF AND STRAIGHT TO RESISTANCE !!After going back 50% of the entire rise since 1990, we have one of the top three video game producers in the world and exclusively for sports games growing consistently and consolidated. price level 151 is now a reality soon and more with the launch of its long-awaited video game the latest star wars saga.
