(Finance) – The stock is moving lower Take-Two Interactive Softwarewhich changed hands at a loss of 7.15%.
The decision taken by the video game manufacturer to lower its revenue forecasts is weighing on the shares fiscal year 2024: turnover is expected in the range of 5.25-5.30 billion dollars compared to the range of 5.45-5.55 billion previously estimated. Take-Two estimates for the fourth quarter sales between 1.27 and 1.32 billion dollars against the consensus of 1.51 billion.
The one-week trend of global video game distributor is more sluggish compared to the trend of Nasdaq 100. This decline could trigger opportunities for the market to sell the stock.
The short-term examination of Take-Two Interactive Software classifies a strengthening of the bullish phase with immediate resistance seen at 159.7 USD and first support identified at 153.8. Technically, a further upward trend in the curve is expected towards new tops estimated in the 165.5 area.