Hi BP
saying it crashed through the MA30 today sounds rather dramatic...eh?
Yes it did...but MA30 is a rather sensitive indicator and sensitive indicators have a bad habit of "Faking Out" investors with those newly bought shares.
In saying that, the EMA30 is very well behaved on the TTK chart and when it has false signaled it hasn't been by much...Much better than the RSI MACD momentum indicators (set on default) which have a habit of firing off buy signals during sucker rallies just before they end...
With TTK ,,, the downtrend is weakening yet again for the umpteenth time ...Is this a cyclic reversal at 150 or is it another sucker rally in progress???..It's hard to tell, so treat it as a bear cycle until the reversal is confirmed...at the moment the Coppock Indicator which indicates cycle reversals from bear to bull hasn't fired any signals so that's not good news..the other confirmation is the trend reverses to up trend... shares make higher highs and higher lows ...TTK has to break through the 170 bull bear line for this trend reversal to begin ...then more confirmations are needed.
Disc: own none ...its better for me just to stay away from bear cycle shares... period!!!!...but I have added it to my watchlist
TTK closed at 165 +3c +1.85%
http://i458.photobucket.com/albums/q...TK28072014.png