TTW : At key support, so worth to monitor for a breakdown or reversal
April 10, 2011 Leave a comment
Tap water or dish water, we are unsure, but TTW is very dull and in much need of some fresh cash to enter and turn it around.
The counter has key support at 5.90 and 5.70, with both levels up for a retest it seems. A dip below 5.70 could be very bad news and would place 5.40 as the downside target.
Given 5.90 holds this week, then a rebound will need a strong close above 6.20 to give hope of a move to 7.20 on medium term basis.
If we were market makers here we would force a mini panic by ticking it down to 5.65 or 5.60 or so, and would then buy it up a tad lower when sellers emerge, which they very likely would do. Just a thought.