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Today, we’re recommending a bullish trade on Activision Blizzard, Inc. (NASDAQ:ATVI) following the announcement of the latest “Call of Duty” release.
Technology/Entertainment companies got a nice boost Friday on good news within the sector, and we like the support bounce on ATVI that should send the stock back to its prior highs, with an initial price target near $61 per share. Investors seem to be turning the corner just a little on consumer spending (outside of traditional bricks-and-mortar and apparel), which should help create the buying pressure we expect in the stock.
‘Buy to open’ the ATVI August 60 Calls (ATVI170818C00060000) for a maximum price of $2.00.
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