Why I Increased My Position in TTWO By 200% Today

TTWO chart

I opened an intial position in TTWO earlier this month. Since then it has been exhibiting perfect tennis ball action.

I chose today to add to the position because after a six session pullback on low volume it broke out of its base on high volume. According to my trading rules the stock must break the previous high by 1% coupled with volume that is at least 40% of the 30 day average, and it must do that before 11am.

The moment the stock crossed my price and volume threshold I added a 1/2 position. I'm now up to a 3/4 position, an increase of 200%.

This price action was nice to see after hitting lots of stops over the last couple days. A lot of my recent breakouts failed so it's encouraging to still have some tickers behaving exactly the way I would like them to.

Updated Dec 30, 2020 by Scott
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This is a brief explanation of what I saw in TTWO that caused me to increase my position today.

The AMZN chart looks a heck of a lot like TSLA just before it exploded into the $600 range.

Here's a quick explanation about why I opened a position in EXAS as it broke out of its' base.

Crowdstrike just had amazing earnings and their stock gapped up because of it. We are just off the all time high set just a few days back.

Paypal's breakout looked strong today. It finished the day at 98% of it's 30 day volume average and rose just over 3%. The volume seemed to be trending higher than 98% earlier in the day but it started to trail off. I was a little dissapointed in that but the trade still looks promising.

Updated Dec 30, 2020 by Scott