Is it really heading to 21 as analysts suggest?
Lately, several analysts upgraded Tower's price to 21$
Since the upgrade, $TSEM's price experienced strong rally that pushed it into a major weekly resistance zone that consists of three elements:
1. Broken uptrend line - Now resistance
2. 18 & 50 Weeks MAs - Strong MAs resistance
3. Minor structure zone
As long as $TSEM stays below 14-15$, it has potential to decline all the way lower to 10$ to complete a 61.8 Fib retracement.
The confirmation signal will be if $TSEM will close below 13$ again.
Even if $TSEM will break out of 15$, resuming its trend, it still has to face the top of the Triangle pattern that created major bearish waves in the past... so I can't see how ANYONE can say that $TSEM will reach 21$ from the current positions its at.
I'm bearish on $TSEM as long as it stays below 15$ and I'm showing in the chart my mid-term potential short
Read the complete blog post on my Blog - goo.gl/FyAcji
Since the upgrade, $TSEM's price experienced strong rally that pushed it into a major weekly resistance zone that consists of three elements:
1. Broken uptrend line - Now resistance
2. 18 & 50 Weeks MAs - Strong MAs resistance
3. Minor structure zone
As long as $TSEM stays below 14-15$, it has potential to decline all the way lower to 10$ to complete a 61.8 Fib retracement.
The confirmation signal will be if $TSEM will close below 13$ again.
Even if $TSEM will break out of 15$, resuming its trend, it still has to face the top of the Triangle pattern that created major bearish waves in the past... so I can't see how ANYONE can say that $TSEM will reach 21$ from the current positions its at.
I'm bearish on $TSEM as long as it stays below 15$ and I'm showing in the chart my mid-term potential short
Read the complete blog post on my Blog - goo.gl/FyAcji
Comment:
Short target closed as stock reached target zone