Wednesday, December 19, 2007

TIE too dangerous right now?

Well, it's been trading in a channel for almost two years. Up and down between $25 and $40. It's just above long-term support, and at the very least, you can expect it to test the 50-day EMA, but by the time that could happen in a couple of weeks, the 50-d might below my $28 confirmation anyways. Someone aggressive could try an A-T-M call for a short-term gain, but I think there are far better opportunities out there and would pass this one by. Good point about the MA's Vincent. I'm still getting into the habit of checking them. I usually do, but I overlooked it this time. There is pretty strong support at $25, but the question is what is going to happen once the MA's get there and depending what goes on in the sector and market. It could have a drop to $20 at support there. Please post on CRISS if you respond.

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