Activision Blizzard, Inc. (NASDAQ:ATVI) layoffs are expected in the coming days
It has been a rather troubling year for Blizzard fans all-told. That is, based on the reports about what has been going on behind the scenes. From the departure of longtime CEO Mike Morhaime to the scaling back of Heroes of the Storm to the many rumours of cost-cutting measures across all teams. Then there’s Bungie leaving Activision after the reported disappointing performance of Destiny 2.
That also led to the recent drop in Activision Blizzard’s stock price.
Although both companies run autonomously under a single banner, according to a new report over at Bloomberg there are currently hundreds of jobs across Activision Blizzard about to be shed. In an effort “aimed at centralising functions and boosting profit”, with $7.28 billion now the projected sales revenue for Activision Blizzard. A drop of 2 percent over last year.
Neither Activision or Blizzard have responded to the reports, but sources close to Kotaku have stated that some of the jobs to be cut will be in Blizzard departments outside of game development – like marketing, sales, etc. Which if true, would no doubt erode some of Blizzard’s autonomy. Which reinforces Bloomberg’s centralising reports – a move that can only mean Activision will be taking a more hands-on approach to the running of Blizzard.
The layoffs are expected in the coming days.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 47.73.
The projected lower bound is: 38.79.
The projected closing price is: 43.26.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 16.6667. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 19 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 39.57. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 30 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -160.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 19 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Rex Takasugi – TD Profile
ACTIVISIN BLIZRD closed down -0.550 at 43.410. Volume was 76% above average (neutral) and Bollinger Bands were 57% narrower than normal.
Open High Low Close Volume___
43.780 43.930 42.880 43.410 19,275,224
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 45.70 47.34 66.11
Volatility: 72 60 50
Volume: 14,259,176 11,807,799 8,196,058
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ACTIVISIN BLIZRD is currently 34.3% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of ATVI.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on ATVI.O and have had this outlook for the last 2 periods.
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