TISCO : A weekly close at 35 or higher will be very bullish

On Feb 9th we noted that TISCO has a very solid support base from 29 to 31 or so, and it is within this rage, even at the top end, where one might consider MT accumulation. For the stock to come off to nearer 26-27 we think something pretty bad will have to happen – either to the company, or to the county. There are quite a few others with similar characteristics to TISCO, with major downside and indeed a change in the medium term trend unlikely in our view.

Today it’s trading at 35 or so, and on the monthly chart below it is clear to see this level is of some significance. If indeed TISCO holds above 35 this week, it will open up a range to at least 38.50, if not 40.

First support today is at 34.50, with 32.50 to 33 looking quite solid now. Certainly one to buy and hold, so treat any near term weakness as an opportunity to accumulate.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: