TFD : A breakout above the 1.24-1.26 resistance will be very bullish
August 4, 2011 Leave a comment
TFD has a major barrier at 1.24-1.26, when passed will give a technical target nearer 1.8
For now it needs to hold above 1.10 to keep it safe, with a breach here pointing to 1.02-1.03 as the next support.
Like so many stocks, what’s required for some fun and games here is a big surge in volume. Current levels are just 3-5m shares a day, but when it went crazy a couple of weeks back flows were well above 100m shares / day for a short while. It needs a repeat of this if it is to get near the 1.24-1.26 range over the next couple of days.