Chart Wars: Will Electronic Arts Or Take-Two Reach New All-Time High After Activision Deal?

Electronic Arts, Inc. and Take-Two Interactive Software, Inc. ramped higher on Tuesday following the news that Activision Blizzard, Inc will be acquired by tech giant Microsoft Corp. Both stocks have been trading in a months-long period of consolidation after reaching all-time highs in February 2021. Electronic Arts has been trading in a mostly sideways pattern between $120.08 and $148.92 since reaching a new all-time high of $150.30 on Jan. 25 and Feb. 2, 2021. Take-Two has suffered two fairly steady declines that have brought the stock down over 35 percent from its Feb. 8, 2021 all-time high of $214.91 to a low of $138.19 on Jan. 10, where the stock found buyers and bounced. On Tuesday, Electronic Arts and Take-Two confirmed trend changes to the upside on their daily charts, although both stocks ran into sellers and profit takers on the surge higher. If the stocks are able to continue trading in their …  » Read full article