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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 $129.37 and $130.55 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 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.

Take-Two Interac (NASDAQ:TTWO) is currently priced 1.0% above its average consensus analyst price target of $128.12. The stock should discover initial support at its 50-day moving average (MA) of $124.58 and subsequent support at its 200-day MA of $106.93.

In the past 52 weeks, Take-Two Interac share prices have been bracketed by a low of $84.41 and a high of $139.91 and are now at $129.37, 53% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Take-Two Interac on April 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.57. Since that recommendation, shares of Take-Two Interac have risen 34.2%. We continue to monitor TTWO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle take-two interac

Ticker(s): TTWO