TCC : 50m+ shares / day is what’s needed to move this stock
March 8, 2011 Leave a comment
TCC needs a day of stronger flows if it is to start to be interesting, with a move to 3.56-3.58 looking possible if flows improve. With some support at 3.38, wait and see how it starts trading today before entry, because a dip to 3.32-3.34 is also possible given the market should struggle to hold above the 1000 mark. A daily close or two below 3.34 would be somewhat bearish, and would place last week’s low and its 100 day EMA at 3.16 as next support targets.
For the stock to turn bullish it would need to rally above 3.80, and volume would nee to be in the region of 50m shares for a few days. Seems unlikely, albeit not impossible for the VST.