It's Good to Be the King

News of Activision Blizzard (ATVI) to acquire "Candy Crush" maker King Digital (KING) for $5.9 Billion seemed to be a bit rich at a first to me.

However, ATVI is reversing to green as I write this. And inside Market Chess Subscription Services we have been tracking the overall chart strength in many gaming stocks for a while now, as they exuded relative and absolute strength in recent months even as the broad market corrected. 

If ATVI can hold this reversal, it would seem to reinforce the notion that this remains a "rich get richer" market, where the winners like AMZN FB GOOGL can seemingly do no wrong, even if it is a narrow group at this point. 

In the meantime, other gaming stocks of note to monitor, with decent charts: EA GME TTWO. 

While that is playing out, the market looks to be resoundingly losing another former momentum darling in TASR, as that chart breaks lower from a daily and weekly topping pattern. 

One thing is for sure: It is good to be KING.