Sean, I have heard a lot of good things about ATVI and looking at the 2 -year and 10-year charts, there looks to be significant room for growth…..What are your thoughts?
I was in ATVI, but bought at 46.72 in December 2018 and sold December 2019 with a 21.90 long-term gain. But why would you want to buy in when it is almost at it’s 52 week high and the market overvalued?
I am currently in it….and have a good gain…but am wondering if I should hold for additional growth (based on charts) or sell (based on wave counts) and preserve capital?
The P/E is just as risky as the overall market and I don’t see anything compelling about it’s long-term chart. It’s had a major sell-off after a bubble, which hurts investor sentiment. It’s likely in a wave B and headed for a wave C. We can’t say for 100% sure…but just the high P/E, chart breakdown and sell signal on the MACD and slumping RSI would be enough for me to not still be in the stock. But what you do in the end is up to you.
Made about $100 (10%) profit from my position…..Sold based on your concerns over MACD, RSI, and P/E ratios, and to preserve/raise cash for Logical Investor positions…..
It is fundamentally sound but this could be a long wave A and could bust quite a bit more since it ran up so much in its last bull run. Wouldn’t surprise me if this stock gets hit hard in a wave C.
