Take-Two Interactive (TTWO)

May 18, 2021Trade Ideas

Even at $168, Take-Two Interactive (TTWO) is an oversold bargain.

At the moment, it’s sitting at double bottom support, with RSI and Williams’ %R just starting to pivot higher. The company is set to report its financial results for the fourth quarter and fiscal year 2021 after the market closes today. With the red-hot video game boom showing no signs of cooling, we’d like to see blowout numbers from TTWO this afternoon.

“Consumer spending on video game products continued to thrive in the first quarter, delivering record results,” noted NPD analyst Mat Piscatella, as quoted by The Gamer. “While we are still seeing elevated rates of both engagement and spending resulting from changes in consumer behavior driven by the pandemic, we are also seeing cyclical gains from the November launches of both the PlayStation 5 and Xbox Series consoles. The growth driven by these new platforms, combined with gains experienced in mobile, PC and VR content spending, as well as the continued strength of Nintendo Switch, have pushed the market to new highs.”


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