Activision (ATVI) NewsBite - ATVI Downgraded By Piper Jaffray

Posted: Thursday, October 29, 2009 1:56 PM EDT

Activision (ATVI) was downgraded today by analysts at Piper Jaffray and the stock is now at $11.06, down $0.33 (-2.9%) on volume of 25,105,684 shares traded. The brokerage reduced ATVI to Neutral from Overweight. Over the last 52 weeks the stock has ranged from a low of $8.14 to a high of $13.14. Activision stock has been showing support around $11.10 and resistance in the $11.88 range. Technical indicators for the stock are neutral and S&P gives ATVI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ATVI the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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