TTW : Still waiting to break 6.10
August 1, 2011 Leave a comment
We commented on TTW on July 27th, noting a break on big vols (15m shares on the day) above the 6.1 resistance will place 6.5 as the target.
We also said ” First support is 5.80, but given a conducive market a move to 6.50 looks possible, and will be confirmed on the break at 6.10 if flows are strong in the 13-15m range on the day, with half going through at this resistance.”
Nothing has changed really so we think there’s still a decent chance of a breakout, with volume the lacking ingredient, and indeed the signal for VST traders’ to jump in if there is a break with hefty buying.