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

By David Diaz

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 $44.81 and $45.21 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.

In the past 52 weeks, Take-Two Interactive Software share prices have been bracketed by a low of $24.01 and a high of $46.78 and are now at $45.04, 88% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Take-Two Interactive Software (NASDAQ:TTWO) is currently priced 15.1% above its average consensus analyst price target of $38.23. Take-Two Interactive Software shares have support at the 50-day moving average (MA) of $35.84 and additional support at the 200-day MA of $33.32.

SmarTrend recommended that subscribers consider buying shares of Take-Two Interactive Software on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.99. Since that recommendation, shares of Take-Two Interactive Software have risen 14.6%. 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