$TTWO Is Down 25%, I’m Still Not Buying
$Take-Two(TTWO)$ down -25% since we posted the bearish setup, and I am NOT touching it yet ❌
The summer was not looking good.
Weekly structure broke, and price pushed back into the bearish smart money zone.
Since then, the stock has sold off roughly 25% and continues to bleed as we approach the release of Grand Theft Auto 6.
That does not change my fundamental outlook.
With a bearish setup like this, I would normally expect price to continue lower into the monthly bullish institutional buy zone.
There is also a major volume profile gap between $200 and $160.
I would not short this name here, as RVR isn't ideal right now.
If I wanted to build a long position, I would be more interested between $170 and $160.
That range offers a much better discount.
Fundamentally, I’m not buying the GTA 6 hype.
I expect the game to be phenomenal, but much of that excitement is already priced in.
Without a marketplace or online ecosystem at launch, the larger thesis around building a massive commerce platform and brand will likely take much longer to develop.
Not a short.
But I’m not buying the hype at these levels either.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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