Take-Two Interactive's stock (TTWO) skidded in the intraday levels after the video games publisher cut its full=year reservations by $400 million, sending the stock down 13.68%, or 14.83 points in the last session, and settling at 93.57, with trading volumes surpassing 19.3 million shares, above 10-day averages of 4 million shares.
Technically, the main downward trend dominates in the short term, with negative pressure from the 50-day SMA, in turn piercing the pivotal support of 102.40.
Therefore we expect more losses for the stock, targeting the support of 79.79, provided it settles below 102.40.
Expected trend for today: Bearish