RS_Trades

TR 50MA Resistance

Short
RS_Trades Pro+ Updated   
NYSE:TR   Tootsie Roll Industries, Inc
If TR bounced back and shows resistance at the 50DMA there may be a short swing position to enter. Been resistance for this stock since the beginning of July.

If this breaks above the 50DMA I would hold off on taking a long position because the stock was still on a downtrend when it broke through in May and June. Possible to take a short position if it shows a reversal above the 50DMA in this scenario.
Comment:
Stock is right at the 50DMA today but showed a strong close. Will wait for some confirmation before entering a short position.

Lots of uncertainty with VIX rising and stimulus talk. Would hate to go short then have this break through and go long.

If this does break through I might consider a long swing but it has shown a past of faking breakouts over the 50DMA so I wouldn't want to hold the position too long.