Take-Two Interactive Software

Take-Two Interactive Software (TTWO) develops, publishes and markets interactive entertainment for consumers worldwide. This stock closed up 7.2% at $18.65 in Wednesday's trading session.

Wednesday's Volume: 6.87 million
Three-Month Average Volume: 2.62 million
Volume % Change: 221%

From a technical perspective, TTWO soared higher here right off its 50-day moving average of $17.27 with strong upside volume. This move pushed shares of TTWO into breakout territory, since the stock took out some near-term overhead resistance levels at $18.27 to $18.48. Shares of TTWO are now quickly moving within range of triggering another big breakout trade. That trade will hit if TTWO manages to take out some more key overhead resistance levels at $18.88 to its 52-week high at $19.25 with high volume.

Traders should now look for long-biased trades in TTWO as long as it's trending above its 50-day at $17.27 and then once it sustains a move or close above those breakout levels with volume that's near or above 2.62 million shares. If that breakout hits 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 breakout are $23 to $25.

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