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Score 25% Returns With This Video Game Maker

Take-Two Interactive Software is challenging major resistance with a new buy signal

   

Take-Two Interactive Software (NASDAQ:TTWO) — This video game maker sells interactive software games and accessories for PCs and systems offered by Sony (NYSE:SNE), Nintendo and Microsoft (NASDAQ:MSFT). It makes the popular “Grand Theft Auto” games. “GTA V” is scheduled to be launched this year, and is expected to account for a significant portion of revenue. And a new Sid Meier game, “Ace Patrol,” is set to be introduced as a mobile game.

Earnings for fiscal year (FY) 2013, ended in March, are projected at $0.18 per share, up from a loss of $0.71 in FY 2012. FY 2014 earnings are expected to be around $2.25.

In December, TTWO’s 50-day moving average crossed above the 200-day moving average. This is a bullish signal known as a golden cross, and is considered a positive and powerful long-term development.

The stock broke from the top of an intermediate bull channel in February, following better-than-expected earnings, and began forming a second bull channel. Now it is challenging its major resistance line at $16, and last week, a new MACD buy signal was triggered. A break above $16 could render a trading target of $20.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/05/trade-of-the-day-take-two-interactive-software-nasdaq-ttwo-2/.

©2014 InvestorPlace Media, LLC

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