TTWO takeoff
TTWO has got pretty badly beaten up in the last few months, suffering a 24% decline since it's last earnings.
4th of March saw TTWO smash through it's long term "covid-19" trendline, which was worrying and I'm sure for those who love to short that would've been the best opportunity...
Remember perspective is everything, it's greater long term trend wasn't in threat.
Anyway, with it dipping below it's 200 day sma (which is my number 1 "buy-the-dip" moment in solid companies) it spent a little time reestablishing a base of support around 165-167. After some wrestling with it's 200 day sma as resistance, recently it's broken free. The likely scenario now is this can climb and face it's former uptrend line as resistance. If it overcomes this, along with regaining its 50 day SMA, this period may be over.
4th of March saw TTWO smash through it's long term "covid-19" trendline, which was worrying and I'm sure for those who love to short that would've been the best opportunity...
Remember perspective is everything, it's greater long term trend wasn't in threat.
Anyway, with it dipping below it's 200 day sma (which is my number 1 "buy-the-dip" moment in solid companies) it spent a little time reestablishing a base of support around 165-167. After some wrestling with it's 200 day sma as resistance, recently it's broken free. The likely scenario now is this can climb and face it's former uptrend line as resistance. If it overcomes this, along with regaining its 50 day SMA, this period may be over.
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