TUF : Next stop 40, then 35-36
February 24, 2011 Leave a comment
TUF’s week chart gives little hope of a reversal just yet, even though strong support is seen at 40 or so. However if the counter retraces to 35-36 over coming weeks it will be worth to have another look, and consider swing trade re-entry.
We view a pullback to 30 or so as unlikely, albeit possible if the stock falls below 40 easily, and hits 35 or so within 2-3 weeks. That would be bad news, and increase the risk of it coming off to 30 or so before reversing