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Electronic Arts Inc. (NASDAQ:ERTS)
 Technical Features: A: Downtrend. B: Long-term resistance at $40. C: Resistance at $25. D: Support at $15. Technical Analysis: Though not a positive chart, there are several sound developments that bode well for the future. Unlike so many other charts, ERTS did not bounce up to ridiculous levels after the 2008 bear market. Instead ERTS tested and retested support (D) at $15. Also, the prolonged sideways movement between support (D) and resistance (C) at $25, eventually broke the downtrend (A). Expect, ERTS to hold up reasonably well in the face of future bear markets. As long as it stays between support (D) and resistance (C) it is a hold. When ERTS breaks resistance (C), buy with an expectation of a move to resistance (B) at $40. If ERTS breaks support (D), sell with an expectation of a move to $5.00. Summary: Hold.  |
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