Will TAKE-TWO INTERACTIVE SOFTWRE (NASDAQ:TTWO) Break Out? A Technical Analysis Perspective.

TAKE-TWO INTERACTIVE SOFTWRE (NASDAQ:TTWO) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:TTWO.

In-Depth Technical Analysis of NASDAQ:TTWO

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall TTWO gets a technical rating of 9 out of 10. In the last year, TTWO was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• When comparing the yearly performance of all stocks, we notice that TTWO is one of the better performing stocks in the market, outperforming 93% of all stocks. We also observe that the gains produced by TTWO over the past year are nicely spread over this period.
• TTWO is one of the better performing stocks in the Entertainment industry, it outperforms 90% of 72 stocks in the same industry.
• TTWO is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so TTWO slightly outperforms the market at the moment.
• In the last month TTWO has a been trading in the 197.00 - 218.75 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of TTWO for a complete technical analysis.

How does the Setup look for NASDAQ:TTWO

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:TTWO is 7:

Besides having an excellent technical rating, TTWO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 197.13, a Stop Loss order could be placed below this zone.

How can NASDAQ:TTWO be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.