Electronic Arts Inc. (NASDAQ: ) is an American developer, marketer, publisher and distributor of video games headquartered in Redwood City, California. Founded and incorporated on May 28, 1982, by Trip Hawkins, the company was a pioneer of the early home computer games industry and was notable for promoting the designers and programmers responsible for its games. As of 2014, Electronic Arts was the world's fourth-largest gaming company by revenue after Tencent, Sony and Microsoft.
The chart is looking BULLISH from a technical perspective on a longer-term weekly chart! After a consolidation, the stock broke out of a Bullish Flag pattern to make new all time highs; overtaking the 2005 highs again. The measured move in our opinion suggests a move is under way to the 113 area. Did you know that Point and Figure Charts are a form of technical analysis that can dramatically improve your returns if utilized properly and with comparative analysis?
This art form is hundreds of years old and has nothing to do with TIME, and everything to do with price. It's often overlooked by the newer individual trader and even seasoned pro's but it shouldn't be! Take a look at how using the Point and Figure chart of Electronic Arts can reveal possible price targets if your about to load up your portfolio, hit the SIMS Virtual Hot tub and then conquer a civilization.
The Point & Figure chart overlayed by John shows a sweet vertical price objective of 107 as the target.
This appears to be a great risk/reward setup to get LONG on, IF IT CAN stay above resistance on this Fridays close!
If you are interested in more about Point and Figure charts, we are having a FREE and LIVE Mini Workshop, June 18 at 2 p.m. EST. .
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