This stock is the best opportunity among video game plays right now, traders agree $ESPO (via TradingNation)
"Each time the 50-[week] period moving average has crossed the 200, I've circled in the three prior occasions over the last 20 years," he said "If we zoom into the most recent attempt, we haven't quite crossed."If Activision's 50-week moving average can cross above its 200-week moving average that'll be a bullish sign for the stock, Gordon said. The stock closed down nearly 2% at $72.47 on Thursday.
"That's been a long-term buy signal putting up $85 in sight. We have a long time until earnings, and ... last quarter beat handily, but this stock has a tendency to be very far away from Wall Street consensus," he said. "So, I think earnings in general will be volatile in this sector, but specifically watch this. We hold it and we like it."
Gina Sanchez, founder and CEO of Chantico Global, said investors should be aware of how volatile gaming stocks can be before buying in.than any other segment, and that's because product launches are really important," she said in the same "Trading Nation" interview. "This particular ETF is very leveraged to product launches because it requires at least 50% of revenues to be coming from the gaming segment. And so, that is a challenge," she said of ESPO.trading at "very, very high price-to-earnings ratios," the catch-up trades were fairly slim pickings, Sanchez said.
"Oddly, Activision, of the holdings in this ETF, is actually one of the better values," she agreed. "Now, this could be all over the place in terms of earnings, but I think in terms of long-term value, it's probably the best opportunity within this ETF.""It's kind of holding below [$]60," he said. "If AMD can get another push, I think you might see a little bit of catch-up there with where Nvidia went.
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