TakeTwo maybe taking a break #stocks

12 gen 2021

Despite having a bullish bias in the overall market, I will always look for potential short opportunities to offset long equity exposure. TTWO looks like it might be a decent reversal play to the downside after breaking the uptrend line that comes from the previous range breakout. I am not bearish on he company or the video game sector, but there is always sector rotation and this stock could be a victim in the near term. It was definitely a COVID play but as vaccines are being distrusted, there could be a little less demand at the margin for video games even if the secular trend is still positive. Not sure if we will retest the range high and I am not sure if I want to hold the short into earnings but to sell here with a stop above the highs at 212 might be a trade worth taking