Sunday, January 2, 2011

Chart of the Day

Today's Chart of the Day is TWI. Ideally, the stock needs some more time to consolidate at these levels, but I would keep this in the watchlist for a reason I will just share. Firstly, it belongs to a hot sector - auto parts. Here is a post on best performing industries of 2011 and how they look here. Coming back to the stock, like I said, I would like to see MA(20) catch up a bit before it makes its next move. The volume pattern is very bullish and the key level is 19.86. And here is the main reason why I like this stock....35.26% short float! This makes it an ideal candidate for short squeeze if the stock manages to cross the 20 level.


In case you missed it, here are my predictions for 2011.

Take care and good luck!

No comments: