TCC : 50m+ shares / day is what’s needed to move this stock

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.

 

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: