Updating Our Thoughts on Take-Two Interactive

 | Jul 13, 2017 | 8:42 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

ttwo

Take-Two Interactive (TTWO) was last covered by me just a week ago . I summed up my thoughts with, "TTWO could bounce in the near-term, but the recent pullback to the rising 50-day moving average line looks like isn't over just yet. More downside probes are anticipated. A close below $70 could precipitate a deeper decline to around $60 in the weeks ahead."

The marketplace with its infinite wisdom of price discovery decided to do its own thing and make a U-turn to the upside. Let's check our updated charts and indicators to see how we should play things now.

Looking at this daily bar chart of TTWO, above, we can see that some indicators improved and others did not. After dips towards the rising 50-day moving average line, TTWO moved away from the line in a positive direction. Volume, however, did not expand on the up-closes and the On-Balance-Volume (OBV) line remained pointed lower.

Bulls like to see volume increase as a stock rallies. The Moving Average Convergence Divergence (MACD) oscillator improved, with a crossover to the upside. With this indicator above the zero line, this signal is a fresh buy signal.

This weekly chart of TTWO, above, hasn't changed much in one week. TTWO is above the rising 40-week moving average line. The weekly OBV line shows a rise while the MACD oscillator avoided a bearish crossover.

In this updated Point and Figure chart, above, we can see the fresh high at $75.96 as a small breakout. A bullish potential price objective of $90 is projected on this chart.

Bottom line: If you are bullish on TTWO, you want to see two things on the charts. You want to see volume expand and you want a close above $81.

Columnist Conversations

this chart is showing great bullish signs here, we like this to take out the old high shortly. ...
Now that AAPL has violated the shorter term support, these are the two areas I have to consider for new buy en...
The symmetry is holding up in MCD.  Target 1 is 163.34 if we continue to hold above here!  ...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.