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Fan Yang

Electronic Arts (EA) Challenging a Falling Resistance and Threatening a Breakout

Electronic Arts $EA has been consolidating since a bullish push at the start of the year. It has weathered some bad press in 2019, but did not go back to the 2018-2019 lows. Instead, it is now threatening a bullish breakout from the 2019-consolidation.

EA Daily Chart

(click to enlarge)

Bullish Scenario:
- Looking at the daily chart, we can see that price threatened a bearish breakdown in July when price cracked the common support of $90.
- However, price held above $88 for the most part. Note that the $96 level was resistance for a month, but price broke above this resistance by the start of September.
- Now price is testing a falling resistance that is shaping the 2019 consolidation pattern.
- If price breaks above $101.50, which is the current high on the month, I think we might see a breakout rally at least towards $110.
- I think there might be upside to $115 or even $120 area. 

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