Stock EA Games (EA)
Short. Entry: 125. Stop 130, target 110.
Short. Entry: 125. Stop 130, target 110.
Theoretical swing trade
- Thread starter David's faith
- Start date
Thank you. It's on a greater TF down channel, MAs crossing, bad fundamentals, high EPS, high interest rates = bad for a tech stock. The range will soon break to the downside. Maybe only after when Fifa sequel gets uncovered.
I have a different name for EA, Electronic Arts Inc, why is that?
EA would be the last stock in the world I'd short.
Luckily for you this is just a paper trade.
Why not? They have a hard time finding good developpers because of their reputation. Sooner or later this will have them even more serious quality issues. They lost their FIFA horse, the next Battlefield will not be as hyped as the last one
I was looking at EA from a technical POV not so much fundamentals, I'm not familiar with EA stock. However there was this bit of news on Bloomberg 2 weeks ago; The Saudi sovereign wealth fund bought almost 8.8 million shares of Electronic Arts Inc. during the first quarter, when the stock slumped following a disappointing earnings outlook. The Saudis held about 16 million shares prior to the first quarter, and held 24.8 million, with a market value of $2.99 billion, as of March 31. That makes them the largest outside stockholder in EA.
Besides that, technically there are several Price action indications of strength.
Granted there's a falling price channel from year 2021 and EA sits near the top of the channel atm, but EA closed the gap and for a 'weak stock', after a gap is closed you would see a collapse again.
My money bet would be EA rising, not immediately but in approx July this year.
It could jump in June but I'd assume July at this point in time.