Shares in Electronic Arts (EA) traded sharply lower on Thursday after the 澳洲幸运5官方开奖结果体彩网:video gamer publisher 澳洲幸运5官方开奖结果体彩网:slashe✃d its full-year bookings 🧜outlook amid softening demand for its sports games, including its prominent soccer franchise.

EA revised its net bookings guidance for fiscal 2025, which runs through the end of March, to between $7 billion and $7.15 billion from its earlier forecast of $7.5 billion to $7.8 billion. The company said growth in its Global Football business had slowed in the December quarter after two consecutive years of double-digit net bookings acceleration.

The warning comes after the publisher’s latest two soccer games have hit shelves without FIFA branding following the termination of a longstanding 澳洲幸运5官方开奖结果体彩网:partnership with the world soccer body in 2022.

EA shares fell 17% to $118.58 on Thursday, its low𒁃est closi𓆏ng level since September 2023. The stock is now down 15% over the past 12 months.

Below, we take a closer look at the EA’s 澳洲幸运5官方开奖结果体彩网:weekly chart and apply 澳洲幸运5官方开奖结果体彩网:technical analysis to𓆏 identify key price leve💞ls that investors may be watching.

Multi-Year Uptrend Line Breakdown

Since setting a 澳洲幸运5官方开奖结果体彩网:record high in mid-November, EA ꧃shares have undergone a steep retracement, with the stock breaking down below a multi-year uptrend line during Thursday's steep ♔drop.

Importantly, the move occurred on the highest weekly 澳洲幸运5官方开奖结果体彩网:trading volume since꧙ January 2023, indicating strong selling conviction.

Let’s identify three crucial levels where EA shares could encounter support and also point out a crucial overhead area that may provide 澳洲幸运5官方开奖结果体彩网:resistance during future upswings.

Crucial Support Levels to Watch

The first lower level to watch sits around $110. Shares could encounter support in this area from a 澳洲幸运5官方开奖结果体彩网:horizontal line that connects several prominent 澳洲幸运5官方开奖结果体彩网:peaks and troughs on the chart between February 2019 ꦦand March 2023.

Selling below this level opens the door for a decline to the crucial $100 level, a location on the chart where investors could look for buying opportunities near the 澳洲幸运5官方开奖结果体彩网:phycological round number and the upper level of a 澳洲幸运5官方开奖结果体彩网:consolidation period 🌃that forme🔯d from May to September in 2019.

A deeper 澳洲幸运5官方开奖结果体彩网:correction in the stock could see the price revisit lower support around $87. Bargain hunters may look to 澳洲幸运5官方开奖结果体彩网:accumulate shares in this area near pronounced 澳洲幸运5官方开奖结果体彩网:swing lows that🉐 formed on the chart in July 2019 and March 2020.

Key Overhead Area to Monitor

Finally, during upswings in EA’s stock, investors should keep trac🍌k of the $144 area. The shares may run into overhead resistance in this region on a retest of the multi-year uptrend line, which also closely corresponds with a range of peaks on the chart that date back to August 2020.

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As of the date this article was written, the author does not own any of the above securities.