The actions of Activision Blizzard (ATVI.US) fell more than 3% before trading following Politico reported yesterday that the Federal Trade Commission (FTC) will probably file an antitrust lawsuit to block the takeover of the video game maker by Microsoft (MSFT.US) for $69,000 million. . FTC officials were skeptical of Microsoft’s assurances that the acquisition deal would not produce monopoly power in the gaming industry.
Activision Blizzard (ATVI.US) shares pulled back sharply following buyers failed to break above the long-term downtrend line and the 200 SMA (red line). If current sentiment prevails, main support at $72.00 which coincides with the 50.0% Fibonacci retracement of the bullish wave started in February 2019. Source: xStation5
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