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

By Amy Schwartz

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. Yesterday's price range of $92.29 and $93.34 is within the prior day'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 share prices have moved between a 52-week high of $139.91 and a 52-week low of $84.41 and closed yesterday at 10% above that low price at $92.43 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1%.

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.

There is potential upside of 38.6% for shares of Take-Two Interac based on a current price of $92.43 and an average consensus analyst price target of $128.12. The stock should find initial resistance at its 50-day moving average (MA) of $97.23 and further resistance at its 200-day MA of $114.65.

SmarTrend is tracking the current trend status for Take-Two Interac and will alert subscribers who have TTWO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle take-two interac

Ticker(s): TTWO