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Possible Bearish Inside Day Candle Pattern Detected for Take-Two Interac (NASDAQ:TTWO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Take-Two Interac (NASDAQ:TTWO) based on the price action in the company's shares. Today's price range of $100.45 and $100.57 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Take-Two Interac may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Take-Two Interac has overhead space with shares priced $100.45, or 21.6% below the average consensus analyst price target of $128.12. Take-Two Interac shares should encounter resistance at the 200-day moving average (MA) of $110.52 and support at the 50-day MA of $93.45.

Take-Two Interactive Software, Inc. develops, markets, distributes, and publishes interactive entertainment software games and accessories. The Company's products are for console systems, handheld gaming systems and personal computers and are delivered through physical retail, digital download, online, and cloud streaming services.

Over the past year, Take-Two Interac has traded in a range of $84.41 to $139.91 and is now at $100.45, 19% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

SmarTrend is monitoring the recent change of momentum in Take-Two Interac. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Take-Two Interac in search of a potential trend change.

Keywords: bearish inside day candle take-two interac

Ticker(s): TTWO