EA stock is in a symmetrical triangle pattern as of January 17, 2022.
Electronic Arts named top video games pick for 2022 at Deutsche Bank
On January 10, 2022, Deutsche Bank analyst Benjamin Soff lowered the firm’s price target on Electronic Arts to $175 from $180 and keeps a Buy rating on the shares. The analyst calls EA his top video games pick for 2022. EA has a “strong” organic growth outlook, both next year and longer-term, which should lead to “substantial” value creation over time, Soff tells investors in a research note. The analyst expects the company to grow net bookings at a rate of greater than 6% year-over-year organically, and he believes EA can maintain growth around that pace over a three-year period.
Citi upgrades Electronic Arts, says most downside risk priced in
On December 6, 2021, Citi analyst Jason Bazinet upgraded Electronic Arts to Buy from Neutral with a price target of $150, down from $160. The stock has been under pressure since it reported results in early November, creating a favorable risk/reward, Bazinet tells investors in a research note. The analyst’s base case assumes Battlefield 2042 performs below Battlefield V and experiences “some incremental IDFA headwinds,” but that Electronic Arts is still able to achieve its fiscal 2022 outlook. His scenario analysis suggests most of the downside risk may be priced into the equity at current levels.
📺 Battlefield 2042 Official Reveal Trailer (ft. 2WEI)
📈 EA Stock Technical Analysis
EA stock is in a Symmetrical Triangle setup. The stock will either breakout or breakdown in the coming week which will be a major technical signal for future price action. The short-term trend is neutral, while the long-term trend is still negative. Prices have been consolidating recently, but much resistance may still be present above. EA is part of the Entertainment industry. There are 83 other stocks in this industry, EA did better than 66% of them. EA is currently trading in the middle of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so EA is lagging the market slightly.
There is support at 130.18 from a trend line in the daily time frame. There is also support at 127.85 from a trend line in the weekly time frame. Finally, there is support at 125.26 from a horizontal line in the weekly time frame.
There is a resistance zone ranging from 131.66 to 133.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is resistance at 137.06 from a horizontal line in the daily time frame. There is also a resistance zone ranging from 142.77 to 143.99. Finally, there is a resistance zone ranging from 146.34 to 148.98. These resistance zones are formed by a combination of multiple trend lines in multiple time frames.
EA has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. EA stock has a Setup Rating of 7 which is a decent rating. Click here to sign up for email alerts on when EA stock’s Setup Rating changes.