TOP : Outlook for Feb 21st

TOP looks like it will hit 76 today, with a breakout above this level a bullish sign for the stock. Closing last week at 74, it has initial price support at 73.75 and a reasonably strong base from 70.50 to 72.00, so treat any dip to 72 or so as a VST entry point for a test of 76. If however it opens with a gap, it might not be wise to chase it near the 76 level, unless you see crude futures rally past US$ 92 today, in which case the stock may rally to nearer 77.50-78.00 in the not too distant future.

 

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