Should upper ball joint be replaced or sleeve re-adjusted if the top stud moves?

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1983 K5 full size Blazer, 4X4, GM 10 bolt axle. Drivers side upper ball joint stud, and nut move back and forth 1/8th inch as the hub is lifted, and lowered. Axle is supported and wheel is removed. Can the adjuster sleeve be re-torqued to remove play, or do both upper ball joint and adjuster sleeve need to be replaced to correct this problem? Thank You for your assistance!