Chart of Day: Take-Two Interactive (TTWO)
Last week, we highlighted opportunity in Canopy Growth (CGC), as it traded at around $6.20.
At the time, we noted, “Cannabis stocks may be some of the most controversial opportunities on the market. But many could also be rewarding – especially with these key catalysts. With several key catalyst ahead – such as potential rescheduling ahead of elections, a growing number of Americans approval of legalization, and an upcoming Florida vote on adult-use legalization – related stocks could see higher highs.”
Today, CGC is up to $9.03 and could see higher highs moving forward. We still like it here.
As for new opportunities, take a look at Take-Two Interactive (TTWO).
After testing a high of $171.59 on GTA VI hype, Take-Two Interactive (TTWO) plummeted to a recent low of $138.93 on the game’s delay.
Nowadays, with most of the negativity now priced in, oversold shares of TTWO are a bargain. Plus, it’s slowly starting to pivot higher from over-extensions on RSI, MACD, and Williams’ %R. From its last traded price of $141.72, I’d like to see it rally back to $171.59 with patience.
Analysts at Oppenheimer also just reiterated an outperform rating on the stock, with a price target of $185. The firm noted investor anticipation for GTA VI, upcoming earnings, and a potential adjustment to fiscal year 2025 guidance.
Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies