TTWO trade ideas
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.
TTWO target $145 Oct 19th on Red Dead Redemption 2 marketingWith about 36 days until release and a embargo lifted today for journalists to mention greater details I believe Rockstar Games and parent Take Two Interactive will begin heavier marketing tactics for the biggest game to release since Grand Theft Auto V. This game is largely staying under the radar due to clandestine marketing techniques, but I believe there is likelyhood is could be the game of the decade, and cause video games as a whole to transcend boundaries.
Disclosure: I am LONG TTWO with shares and options. $130/135/140 Strike with October 19th expiration Calls.
Buy Alert for TTWOMy WT Cross Strategy has alerted me to a buy signal for TAKE-TWO INTERACTIVE SOFTWARE INC. ( TTWO ), at a price of $129.79 using a 180-min time frame. My idea is to buy the dip, at price below $129.79. I will update when I get the signal to close the trade.
I am using the following parameters for this trade:
Channel Length - 750
Average Length - 1
Average Length2 - 17
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I have a Pro+ subscription for Tradingview so this gives me access to more data than someone with a free or even a lower tier sub. More data should enable me to construct a more robust model, so your mileage may vary if you are trying to use this strategy for a free account. Please use caution, and be advised. Good Luck All!
$TTWO - Take Two - ShortThis is a contrarian view on TTWO. I don't short very often and if I do its usually short term only.
We have an outside day bar rejecting from the top Bollinger band forming a tweezer top pattern.
I'll be looking at entering on the open tomorrow as long as price breaks todays low.
SL at 140
TP1 at 128
TP2 at 120
TTWO: As much I love this name...time for pullbackI can see them coming down to 121 level and then I will back my truck up once again. This is still the BEST name in my book.
TTWO: Still is my biggest play of the year.124+ coming fast and furious. My own personal prediction is 175-180 by the year end.
TTWO: Caught Unprepared + Hit HardCaught by surprise by what is now the biggest game in history (Fortnite).
Fortnite has taken over high school + college market COMPLETELY. No one is playing any other game... no one.
Epic Games is reeling in an estimated 3.5B and has endless opportunity going forward.
Upcoming Short Catalyst:
Red Dead Redemption release to upset big: Red Dead has little relevance to the younger crowd, especially when released during the same month as Call of Duty and Battlefield. Expect Red Dead Redemption to be the last of the 3 games to be bought
The higher the stock goes in the short term the more you short :)
Target 1: $80's
if that cannot hold we may see a deeper correction down to the $60 range
Target 2: $60's
TTWO: One of my fav names...Made a full C&H and now forming a nice bull flag. Own this for long term. I expect this to make a move soon. 130 is near term target.
TTWO Long idea above 119.35Inverse H&S
I took 121 calls for Jun 22nd expiry. It nicely broke I H&S but there is some resistance above this neckline which is around 119.35. If this price breaks, trade will be active and look for new highs!
TTWO possible Cup w/handle, potential breakout**Please note I used this feature to track/journal my trades and ideas, follow at own risk**
Notes in the chart, been following TTWO for a while waiting for a good buying oppurtunity. We shall see how this one plays out.
TTWO: Wave 5 of 3 targets of 1.272, 1.414, and 1.618 extensionsSee notes on chart for targets. Wave 3 is seriously extended though.
TTWO SHORTTTWO has had an amazing run (1650% from 2012 bottom until 2018 top), however, since May of 2017, its RSI gradually started declining, while its price kept on moving higher, showing a bearish divergence. It reached a top in November, which it could break for the second try in January 2018, but on a significantly low volume, which would be needed for a continuation of the uptrend. It failed and it also broke the 50 day Moving Average and the 200 day MA, with a large volume selling day in between, showing further weakness.
My prediction is that it will try to break above the 200 and 50 day MA's, but it will fail, break the lower support around 92 and correct until the 68 level, which is around a 50% correction of the full trend of the last 6 years.
TTWO's last standTTWO is on very thin ice right now. TTWO has be under-preforming the other game stocks for the last few weeks. The breakout i previously predicted looks like a textbook blow-off top. There is not a lot of support below $100 and once that breaks i expect it to move quickly to the low $80s / high $70. Fib support (.5) and the 100 unit moving average await this wounded soldier. I expect we at least have a solid bounce in this area.
