Electronic Arts (EA) Poised for Breakout

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I don’t foresee much in the way of major market pullbacks, and that’s exactly why I’m geared up about a trade I’m eyeing with Electronic Arts (EA).

What can I say – it checks a lot of boxes for me.

There’s a solid squeeze developing, and the pattern?

Well, you’ve just gotta see it to believe it.

Here’s What I’m Watching:

  • Targets: EA is primed to chase new all-time highs.
  • Key Levels: I’m focusing on $153.51 and $156-those levels are pivotal.
  • Options Play: The September slightly out-the-money calls at around $150 look juicy right now.

Click the image below to watch my full breakdown:

New Lifetime High

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YOUR ACTION PLAN

EA has shown real strength after its earnings report. It faced downward selling pressure but rebounded well. We’ve got a nice 195-minute squeeze setting up, which could serve as the spark for a bullish move.

Electronic Arts (EA) chart(Click to enlarge)

The momentum is shifting nicely, with stacked EMAs indicating a clear upward trend. I had long EA calls in my Daily Profits Live Portfolio which I closed out for a 30% profit after a week of holding them.

The reason why was because they were expiring this week. Later today I will look to get back in, this time I’ll look for call options that give me more time.

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