Today we'll analyze the Stock TCO for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 54.50$ (03/20/08) to 51.12$ (03/28/08) a 3.38$ move
2- The current bullish trend started from 51.12$ at 03/28/08 and is currently trading at 55.76$.
3- The stock current support level is at 55.42 which is the 127.20% fibonacci retracement of the last 3.38$ move.
4- The stock current resistance level is at 56.59 which is the 161.80% fibonacci retracement of the last 3.38$ move.
5- According to ADX, the trend is currently bullish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :
6- The Stock was supported by a support line, identified by two points: 51.12 and 47.74, and is currently supporting at 52.81.
Mid term chart patterns :
7- The Stock was supported by a support line, identified by two points: 51.12 and 47.74, and is currently supporting at 52.81.
Long term chart patterns :
8- The Stock was resisted by a resistance line, identified by two points: 59.42 and 60.34, and is currently resisting at 58.6951.
Conclusion:
TCO was trading in a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
.
Resistance Levels: 56.59, 58.70.
Support Levels: 55.42, 54.66, 54.50, 53.99, 53.44, 53.21, 52.89, 52.81, 52.41, 51.92, 51.12,.
We Moved!!
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Monday, April 7, 2008
Taubman Centers, Inc. (TCO) Technical Analysis
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Shadi
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