TTWO trade ideas
Take Two Interactive Reversal Potential
Todays upgrade
Exane BNP Paribas analyst Nicolas Langlet upgraded Take-Two Interactive Software to Neutral from Underperform with a $113 price target.
Trade Journal: Short TTWO - Rising Wedge - 2/24/2020With market weakening and a big gap down day, I've been continuing looking for short ideas to ride this possible start of a big downtrend. TTWO has been of interest short since making a bearish PEG and creating a nice rising wedge pattern. I was looking to get short at the break of this pattern.
Entry - 112.70
Stop Loss - 115
Target - 100
I already exited this trade at 114.60 (Early stop). I pulled the trigger way too early on this trade today. TTWO did not clear the high volume node which was clearly acting as support. I ended up bottom ticking the short entry.
I will continue watching TTWO as the setup is still valid. I am expecting retracement to the upside tomorrow in the market.
TTWO possible gap fillA steep selloff followed TTWO's earnings. However it appears to be rebounding including possibly overcoming the 30 min Ichimoku Cloud.
Target: Feb 6 highs
$TTWO earning run up and shortThis play on $TTWO is a basic cup and handle long but as the Ninja scalper alerted we had trouble at the top thus exit the long and get short via puts for the earning.
When you add to the mix the iconic game franchise GTA has lost one half of the brothers behind the creation this does look like there will be a strong pullback.
Playing earning is risky and this is hedged by using profit from the long to open the short position with put options.
Implied volatility will get crushed so the hope is the move outpaces the crush and it is Friday this will occur quickly.
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Take Two interactive Bullish on WeeklyVery bullish price action and a possible Cup and Handle formation in play with Indicators also in
bullish trajectory.
Take-Two Pulls Back After Breaking ChannelVideo-game maker Take-Two Interactive traded in a very tight range since October. But now it's broken above that channel and is potentially finding support at its old resistance around $125.
TTWO, owner of titles like NBA2K, is a classic growth stock -- the same kind of company that's come back into favor recently as the Federal Reserve keeps interest rates super low. It's had a decent earnings history, with the stock advancing after the last three reports. The next set of numbers is due in early February, which could boost interest in the stock going forward.
The entire videogame group also stands to benefit from the growth of Alphabet's Stadia cloud-based platform, and analysts have identified TTWO as a beneficiary of the new service.
TTWO also seems to be working its way out of a long-term cup-and-handle pattern following last year's dive toward $84. The recent high around $116 is potentially the higher low / handle part of that pattern.
Given the old resistance at $125, traders may want to use that level for risk management. Above it, buyers may look for a move back toward the hold highs near $140.
TTWO - Cup and HandleTWO has been forming a 6 month cup and handle
3% horizontal price pattern breakout entry $144.28
Measure pattern price target $194.45
TTWO Platform CompressionPlatform trendline patterns usually form on the upside trend due to Dark Pool Quiet Accumulation, as the giant Buy Side Institutions control their entry price. This Platform formed on the downside, but it is in a compression at this time to test the highs of the sideways action.
easy short on TTWODistributuion as we aproach to an untested lvls, PT at trand start and potencial touch at 80's lvl
$TTWO Trading IdeaTTWO may have some folks having a heartache with the aggressive drop. I am in this trade to, but am confident that if the channel is true, we should rebound around in the neighbourhood of 121 - fingers crossed.
By all means don't take this as a trading advice folks
TTWO surprises with beat on earnings and raised guidance. Somewhat out of the blue but yesterdays earnings beat and then raising of guidance is somewhat of a surprise after the dome and gloom that hampered the sector for the previous 3 quarters.
Take-Two Interactive Software Inc. shares rose more than 6% in the extended session Monday following a brief halt, after reporting quarterly revenue that topped consensus estimates.
EARNINGS HIGHLIGHTS- source marketwatch
The videogame maker reported fiscal first-quarter net income of $46.3 million, or 41 cents a share, compared with $71.7 million, or 62 cents a share, in the year-ago period. Take-Two did not provide an adjusted earnings figure but sent out instructions to reporters on how to calculate it. Revenue rose to $540.5 million from $388 million in the year-ago period.
Bookings grew 46% to $422.2 million.
Analysts surveyed by FactSet had estimated Take-Two’s TTWO, -5.19% adjusted earnings of 4 cents a share on bookings of $357 million.
Several large videogame companies, such as Electronic Arts Inc. EA, -4.63% and Activision Blizzard Inc. ATVI, -5.96% , use bookings instead of revenue in order to capture online sales and revenue generated by selling physical units of the games they make.
For the fiscal second quarter, analysts expect adjusted earnings of $1.71 a share on sales of $852 million.
The company said it was raising its fiscal 2020 outlook to earnings of $1.04 to $1.14 a share on sales of $855 million to $905 million. It said it expects bookings of $860 million to $910 million.
Take-Two stock slumped in regular trading Monday but has gained 12.4% this year, with the S&P 500 index SPX, -2.98% rising 17%.
AVERAGE ANALYSTS PRICE TARGET $126
AVERAGE ANALYSTS RECOMMENDATION buy
P/E RATIO 39
SHORT INTEREST 3.7%
COMPANY PROFILE
Take-Two Interactive Software, Inc. engages in the development, publishing, and marketing of interactive software games. Its products are designed for console systems, handheld gaming systems, and personal computers including smart phones and tablets; and are delivered through physical retail, digital download, online platforms, and cloud streaming services. It operates through the following geographical segments: United States, Europe, Asia Pacific, and Canada and Latin America. The company was founded by Ryan A. Brant in 1993 and is headquartered in New York, NY.
Great Buy for 5-15% return on TTWOTTWO has been on a strong upward trend for the past couple weeks with no sign of a break in pattern. Has been over the 180 EMA with a potential for an east 5-15% profit in the next 1-3 weeks.
TTWO attracts the interest of option traders, July expiryTake-Two Interactive saw options trading volume of 6,327 contracts, representing approximately 632,700 underlying shares or approximately 45.3% of TTWO's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $125 strike call option expiring July 05, 2019, with 2,315 contracts trading so far today, representing approximately 231,500 underlying shares of TTWO. This is also unusual in the fact that TTWO is within a out of favour sector but maybe that's about to change.
COMPANY PROFILE
Take-Two Interactive Software, Inc. engages in the development, publishing, and marketing of interactive software games. Its products are designed for console systems, handheld gaming systems, and personal computers including smart phones and tablets; and are delivered through physical retail, digital download, online platforms, and cloud streaming services. It operates through the following geographical segments: United States, Europe, Asia Pacific, and Canada and Latin America. The company was founded by Ryan A. Brant in 1993 and is headquartered in New York, NY.
$ TTWO options action alert. $130 July 19 strike 20% upside From the charting perspective it is clear that momentum is back with the bulls and the options market indicated that will continue, option traders are signalling a 20% upside move to the $130 area by July 19. Our previous wave count remains intact and the next hurdle is crossing above the 200ma, which should engage more new investors.
Short video games post earningsTTWO closed higher today following a mixed earnings report and soft guidance. The stock briefly traded down to $95 post-close yesterday before rallying through today's session. Highly-correlated competitors, EA and ATVI, also posted nice daily gains as investors seem generally optimistic on the video game sector. However, this chart of the top three names in the space looks like a good selling opportunity now that we're through earnings.
Using TradingView's advanced charting abilities, I created a composite of TTWO, EA, and ATVI which is indexed to 30,000. The sector had been in a strong, tight uptrend dating back to 2012 before breaking through trendline support as well as the 200-day moving average last October. Despite today's strong performance, we can see that the composite is still trading below the moving average and is contained within a contracting range. I believe the ongoing sideways price action is a Wave 4 triangle within an impulsive sequence off the high. Look for the sector to stall in coming weeks and break lower in Wave 5 - a move which should net at least 10% to the downside. Initiating short positions on TTWO, EA, and ATVI as long as the composite stays below the 200-day moving average.
$TTWO Bullish indicators and Analysts into Monday's Earnings.Expectations have been rising in TTWO for this earnings season, even analysts are raising targets pre earnings which is positive. Although its competitors have had very erratic responses to good earnings, we believe that TTWO will provide a good return on an investment pre earnings. From the charting perspective it is clear that momentum is back with the bulls and breaking above the ICLOUD is a very positive sign,, a;; indicators are positive with plenty of room to run to the upside. We will probably wait until the market hopefully stabilizes on Monday before entering a long
Analysts
Average recommendation BUY
Average target $123
14 Buy
3 Overweight
2 Hold
1 Sell
Company Description
Take-Two Interactive Software, Inc. engages in the development, publishing, and marketing of interactive software games. Its products are designed for console systems, handheld gaming systems, and personal computers including smart phones and tablets; and are delivered through physical retail, digital download, online platforms, and cloud streaming services. It operates through the following geographical segments: United States; Europe; Asia Pacific; and Canada and Latin America.
