The company is focusing on two key areas - namely manufacturing and battery technology. While Toyota is developing a dedicated EV platform to help cut costs, it is looking to deploy a highly automated manufacturing process at a new EV unit called BEV Factory, established last month. Toyota is known for its manufacturing efficiency and processes with internal...
Immediate targets 188, 182. Invalidation at 229.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely...
Last week we saw pretty nice spike in $TM with the announcement of the shares buyback. I bet against it even though i had it targeted to reach $206, but with all the uncertainty in the market I thought it wouldn't make it. As it hit the peak of $213 we can see it formed a head and shoulders pattern which brought us back down into the 2nd gap of the original...
After a long period ranging between the two blue lines (support/resistance), we are observing a break out in the downside.
The history of the market tells us that it has several times tried to revert with very strong volumes. ALL FAILED!
Until we had the confirmation of the downside trend.
What to look up next:
Check the volumes and see if it helps...
Seems like a good sell setup but I would exercise serious caution here and watch price action before I go short. This is a monthly play so a lot of patience is required but the risk/reward is completely worth it.
