During a heavy earnings week, video game makers like EA Sports (EA) and Activision Blizzard (ATVI) have surprised to the upside. Take-Two Interactive (TTWO) missed earnings and the stock is now pulling back to previous support.
How can Fibonacci retracement levels help you manage risk and define potential downside for stocks like TTWO?
In today’s video, we’ll review how the long-term uptrend in video game stocks has led to consistent outperformance, and why Fibonacci retracement levels can be an ideal way to manage risk during earnings season. Here are 3 themes we cover:
How Take-Two’s $TTWO long-term bull stock price trend compares to other stocks in the space like Activision $ATVI and EA Sports $EA
How the recent pullback in TTWO stock price relates to its price correction in September 2020
Why $190 is a key price level for TTWO stock and the importance of relative strength in bull market phases
For deeper dives into market awareness, investor psychology and routines, check out my YouTube channel!
One Chart: TakeTwo $TTWO [VIDEO]
Twitter: @DKellerCMT
The author owns a long position in ATVI at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
