Keep an eye on oversold shares of Electronic Arts (EA). While the stock gapped lower on disappointing bookings, it’s a temporary setback, in our opinion. For one, the company is set to release even more anticipated games this year, and next, which should push bookings higher again.
Two, EA is technically oversold on RSI, MACD, and Williams’ %R. And three, the company just declared a quarterly cash dividend of $0.19 per share, It’s payable on Sept. 20 to shareholders of record as of Aug. 30. From a current price of $120.54, we’d like to see EA refill its bearish gap around $135 initially.
Sincerely,
Ian Cooper
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