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Take-Two Interactive Software (
TTWO) is a developer, marketer and publisher of interactive entertainment for consumers around the globe. This stock closed up 3.3% at $17.56 in Wednesday's trading session.
Wednesday's Volume: 4.70 million
Three-Month Average Volume: 2.08 million
Volume % Change: 147%
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From a technical perspective, TTWO spiked higher here and broke out above some past overhead resistance levels at $17.35 to $17.54 with above-average volume. Shares of TTWO also flirted with some more resistance at $17.58 and the stock tagged new 52-week highs. At last check, shares of TTWO closed a bit off its intraday high of $17.84 and volume was well above its three-month average action of 2.08 million shares.
Traders should now look for long-biased trades in TTWO as long as it's trending above some support at $16.50 and then once it sustains a move or close above Wednesday's high at $17.84 with volume that hits near or above 2.08 million shares. If we get that move soon, then TTWO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $20 to $25.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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