When we look at the Take-Two Interactive Software (NASDAQ:) chart, it was trading in a channel between support of $158 and resistance of $166 for the past week, with no notable moves with the sole exception of the big spike during yesterday’s session, rising from the $160 and reaching as high as $178 and managing to hold on to the gains.
Take-Two had scheduled a quarterly announcement yesterday, where they reported higher than expected EPS but missed by a few million their Revenue forecast, which was enough to cause the upward move. It was last found trading at $175.02 with the closest overhead resistance of $178 and the closest support level at $166.
Today we can expect a move towards and beyond the $178 resistance, as positive momentum may be at play. If, however, it doesn’t manage to hold on to the current level, then a move towards the $166 support can be expected.
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