Watching Trendline and 50 Day SMA

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With Toyota's huge stock buy back and talk of a dividend increase after the stellar             numbers from this past year, I'm continuing to look for price action to support a long position. I'm watching to see if the price can break through the current trend line seen in red. After receiving confirmation with the break, the next confirmation signal will be a break of the 50 day SMA .

Currently the way I'm reading price action, 103.38 is the bottom and the point of the trend reversal. I see 106.31 and 108.60 as strong support.
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