Take-Two Interactive (TTWO) looks interesting.
After pulling back from about $170 to $152.50, the gaming stock appears to have caught strong support and could pivot higher. The stock has become oversold on RSI, MACD, and Williams’ %R. While there are now concerns about its exact release date of Grand Theft Auto VI in 2025, it’s still on its way.
As we’ve seen from prior releases of the game, sales should be explosive, which could send TTWO back to $170. The latest pullback looks like an overreaction. Analysts at Deutsche Bank also just raised their price target on TTWO to $180 a share.
Last trading at $156.96, we’d like to see TTWO refill its bearish gap around $170 initially.