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Video Game Leader Forms Tight and Narrow Bull Wedge

by | Jan 18, 2024

Electronic Arts (EA) shares are coiling in a tight pattern and closed strongly on Thursday near highs and back above its 8-day EMA after testing the bottom of monthly value this week and seeing buyers defend the key 136 support level. EA has a strong trending chart and is above its 55-day MA since gapping higher above it on earnings back in early November. EA can trigger a breakout above 139.25 top of value area for a move to the former high at 143 as a first target with then the 150 level being a second objective possibly into earnings on 1/30.

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