TMB : A breakout will come soon
March 30, 2011 Leave a comment
TMB has been trading near current prices for a while now, and as such has built a decent band of support from 2.20 or so to 2.30.
The resistance is clear – 2.42 to 2.46, and will need a huge volume day to take it out, but we think it will breakout again, and therefore feel a punt from 2.34 or so is worth consideration for those not already long. In terms of short term targets for a successful breakout above 2.46, we think 2.70 is a reasonable one to keep in mind for traders.