Take-Two Interactive (TWO) After GTA 6 Release Delay Announcement
Following the news about the GTA 6 release delay, the market reacted sharply. On the weekly chart (W1), we see a strong bearish candle that pulled the price down from recent highs around $270–$280 toward a key support zone defined by Fibonacci retracement levels.
Key Observations:
The decline paused near the 0.618 Fibonacci level ($234), which is a classic area for potential trend continuation in a bullish market.
Additional support levels are located at 0.786 ($223) and the full retracement at $213, historically zones where buyers tend to step in.
The primary trend on W1 remains bullish — this move looks like a correction within a larger upward impulse.
Base Scenario:
On the daily timeframe (D1), I expect a rebound from current levels, with the first target around $250–$260, where local resistance lies.
In the medium term, I anticipate a continuation of the uptrend and a push toward new highs above $280, provided the price holds above the 0.618–0.786 Fibonacci zone.
Risk:
A breakdown below $213 would invalidate the bullish scenario and open the door for a deeper correction.
Following the news about the GTA 6 release delay, the market reacted sharply. On the weekly chart (W1), we see a strong bearish candle that pulled the price down from recent highs around $270–$280 toward a key support zone defined by Fibonacci retracement levels.
Key Observations:
The decline paused near the 0.618 Fibonacci level ($234), which is a classic area for potential trend continuation in a bullish market.
Additional support levels are located at 0.786 ($223) and the full retracement at $213, historically zones where buyers tend to step in.
The primary trend on W1 remains bullish — this move looks like a correction within a larger upward impulse.
Base Scenario:
On the daily timeframe (D1), I expect a rebound from current levels, with the first target around $250–$260, where local resistance lies.
In the medium term, I anticipate a continuation of the uptrend and a push toward new highs above $280, provided the price holds above the 0.618–0.786 Fibonacci zone.
Risk:
A breakdown below $213 would invalidate the bullish scenario and open the door for a deeper correction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.