Titan : Tired?

Titan posts a 3-day successive bounce back on back of high momentum. Of course this is the counter-move to the recent sell-off which turned the short-term trend down. Short term momentum indicators have gone overbought as the stock faces serious resistances within (1170-1200). I sense there is a short term shorting opportunity once the stock slips below the lows of 1160-1165. Trade Well.

Yorum:

Definitely no sign of tiredness did Titan display today as the stock rallied with very high momentum. The stock however did not break below 1160 which would have triggered a short trade. From a very short term perspective now a break below 1195 can trigger some short term correction.