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

By James Quinn

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 $108.86 and $111.04 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.

Take-Two Interac (NASDAQ:TTWO) has potential upside of 15.7% based on a current price of $110.72 and analysts' consensus price target of $128.12. The stock should discover initial support at its 200-day moving average (MA) of $108.21 and subsequent support at its 50-day MA of $100.90.

In the past 52 weeks, shares of Take-Two Interac have traded between a low of $84.41 and a high of $139.91 and closed yesterday at $110.72, which is 31% above that low price. The 200-day and 50-day moving averages have moved 0.26% lower and 0.88% higher over the past week, respectively.

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 $97.58. Since that recommendation, shares of Take-Two Interac have risen 11.4%. We continue to monitor TTWO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle take-two interac

Ticker(s): TTWO