TTWOTTWO seems to have made 5 waves down (4th was the pennant). Now we have touched a support on the daily level, 86 dollars. The earnings were good, yet there came a drop and there hasn't been a retrace. Analysist are giving TTWO a strong buy, as there hasn't been a retrace yet and there hasn't been bad news. TP around 110 dollars.
TKE trade ideas
$TTWO - Horizontal Buy Zones$TTWO broke its upward trendline from it's August 1, 2012 lows. Gaming as a whole will be in decline for awhile due to their lack of creativity and being out of touch with their customer base.
The purple zone is where I expect TTWO to gap fill down. Depending on the fundamentals, I will buy $TTWO in the green zones.
Feedback is always welcome.
TTWO on my radar....earnings Nov 7thTake Two will be on my radar going into Nov 7th earnings. Macro market conditions and correlation with /NQ will dominate price action but if you're looking for high beta from which to extract alpha (new euphemism for the cliche degenerate digital assets trader?)....then TTWO could be a great opportunity (if you can remain fluid with the market) to find multiple trading opportunities on multiple time frames.
Tentative outlook/trade plan development looking for a little bit more relief in macro conditions pushing TTWO up to 50 day simple moving average in which to take an aggressive short into. Profit target would be about $30 to the downside at which time I would be covering my shorts and reversing in to a longer term (6-12 month) investment opportunity. Be tactical. Be patient. If the plan becomes invalidated GTFO.
TTWO facing resistance, still a good buyFundamentals
134.53. NO DIVIDEND
Based in New York, New York
Full time employees: 4,492
Its products are designed for Sony’s PlayStation 3 &4, Microsoft’s XBOX 360 and One, personal computers, smartphones and tablets. The company develops, publishes and markets entertainment products for consumers worldwide. Offers products under Rockstar Games, 2K Labels, Private Division and Social Point.
Develops action/adventure products under Grand Theft Auto, Max Payne, Midnight Club and Red Dead names.
STOXLINE: STRONG BUY 4 Green Stars with a 6 month price target of 161.94
P/E: 52.55
P/E Growth ration -0.01
Technicals
This is another stock that is extremely overbought. It shows strong growth along with the rest of the industry, but it is encroaching on the upper bound of the KRI, and the Momentum indicators are still very strong. Although it has made new highs, momentum seems to be petering out, and a retracement is likely.
Buy TTWO long because Red Dead Redemption2 Hello this is my first idea, also it is pretty simple, but i think buy long TTWO is a good option because Red Dead Redemption 2 is almost release (26/09/18) and that game will be a super sales and does not matter if the game is not very good, the first, second and third day after the release they are going to sell lots of copies and thad means a huge profit . The important thing here is be careful after the first days because when that period of time ends maybe the sales could decreased if the game have not a good acceptance among the players, but everything depends on the game acceptance after the initial days.