A Top for Take-Two?
Take-Two Interactive has rebounded after a sharp drop. Now the sellers may return.
TTWO halted its bounce around $164. That zone offered support in March and May, and resistance in August, then support again in December. Given its relevance in the last year, could it mark a top for the latest move?
Second, the 50-day simple moving average (SMA) just slipped below the 200-day SMA: a “death cross.”
Third, TTWO hasn’t made a new 52-week high in almost a year. That suggests it’s been losing traction with investors for longer than most big Nasdaq-100 stocks.
Finally, notice how TTWO is struggling to stay above its 21-day exponential moving average (EMA). Some traders may view that as a bearish indicator for the short-term trend.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
TTWO halted its bounce around $164. That zone offered support in March and May, and resistance in August, then support again in December. Given its relevance in the last year, could it mark a top for the latest move?
Second, the 50-day simple moving average (SMA) just slipped below the 200-day SMA: a “death cross.”
Third, TTWO hasn’t made a new 52-week high in almost a year. That suggests it’s been losing traction with investors for longer than most big Nasdaq-100 stocks.
Finally, notice how TTWO is struggling to stay above its 21-day exponential moving average (EMA). Some traders may view that as a bearish indicator for the short-term trend.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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