AS for chart, 19 is area of resistance; since Jan to present 19 has been holding pretty firm (oversold). Stock between 19 -19 1/2 is in 200 moving average. TRMB has had rallies to 24, however, sellers were more than buyers -- each time TRMB went sideway, 19 + hold it pretty firm (Buyers were more than sellers). Few times, it broke 19 level, it came back up quickly. If breaks 19 and closes below 18 1/2, the chance of going to 16 1/2 level becomes higher than getting back above 19. Next, 16 1/2 will be tested heavily.
As for prospect of TRMB, the stock has strong potential on the upside than downside. The risk of going lower is minimal. This 19-20 trading range could be ACC/DIST period. With Monday's good news this stock went to 20 1/2 and then back to 19 + area, this may indicate the ACC/DIST trading zone. Today's closing above 20 is a healthy indication. With new press releases and other good news (if any), this stock has potential to break the 24 level on next rally.
BTW, Individual Investor has this stock recommended for its "1998 25 Magic Stock".
I am not here to hype the stock; I am mentioning only facts--take it for what it worth!
MBrad |
