Hi everyone,
Today we are taking a look at
TM
Toyota stock.
This issue has been in the game for a while and it's not one of your parabolic stocks.
TM
stock tends to move aggressively in the short term, followed by a longer low volatility period afterwards.
This stock takes a lot of time to make new ATHs.
Recent action.
Stock price has been rejected by a 20-year-old trend resistence 5 times already.
Persistence of the price action looks good for the stock.
However, based on previous stock fluctuations from the highs, I would not expect price to break the resistence just yet.
Future action.
The stock is famous for consolidating in the same range for many years. Even in a bull market Toyota stock moved sideways (2013-2018). Therefore, being at the top of the trend channel, we might see a proper downward flush.
We could see 145 in the next 6 months.
Even if we break the 20-year resistence (190 level) and hold there, I cannot see this stock going parabolic to the moon.
I would recommend to be conservative on this one.
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
Today we are taking a look at
TM
Toyota stock. This issue has been in the game for a while and it's not one of your parabolic stocks.
TM
stock tends to move aggressively in the short term, followed by a longer low volatility period afterwards. This stock takes a lot of time to make new ATHs.
Recent action.
Stock price has been rejected by a 20-year-old trend resistence 5 times already.
Persistence of the price action looks good for the stock.
However, based on previous stock fluctuations from the highs, I would not expect price to break the resistence just yet.
Future action.
The stock is famous for consolidating in the same range for many years. Even in a bull market Toyota stock moved sideways (2013-2018). Therefore, being at the top of the trend channel, we might see a proper downward flush.
We could see 145 in the next 6 months.
Even if we break the 20-year resistence (190 level) and hold there, I cannot see this stock going parabolic to the moon.
I would recommend to be conservative on this one.
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
