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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Take-Two Interactive Software (NASDAQ:TTWO) based on the price action in the company's shares. Today's price range of $59.25 and $59.58 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. Traders and investors interested in shares of Take-Two Interactive Software 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 the personal computer, PlayStation game console, PlayStation 2 computer entertainment system, Xbox, Nintendo GameCube, and Nintendo Game Boy Advance. Take-Two operates offices worldwide.

Potential upside of 1.2% exists for Take-Two Interactive Software, based on a current level of $59.26 and analysts' average consensus price target of $59.94. The stock should find initial support at its 50-day moving average (MA) of $35.84 and further support at its 200-day MA of $33.32.

Take-Two Interactive Software share prices have moved between a 52-week high of $60.20 and a 52-week low of $24.01 and are now trading 147% above that low price at $59.26 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Take-Two Interactive Software on October 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.60. Since that recommendation, shares of Take-Two Interactive Software have risen 29.4%. We continue to monitor TTWO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Take-Two Interactive Software

Ticker(s): TTWO