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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish 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 $111.15 and $112.50 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. Traders and investors interested in shares of Take-Two Interac may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

In the past 52 weeks, Take-Two Interac share prices have been bracketed by a low of $84.41 and a high of $135.70 and closed yesterday at $109.47, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

Take-Two Interac (NASDAQ:TTWO) has potential upside of 17.0% based on a current price of $109.47 and analysts' consensus price target of $128.12. The stock should run into initial resistance at its 200-day moving average (MA) of $120.49 and subsequent resistance at its 50-day MA of $121.93.

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: bullish am inside day candle take-two interac

Ticker(s): TTWO