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TEN has surprised the traders once again with a break through the short downtrend, retracing back to support, bouncing and making 5% gains on the daily. However, with quarterly earnings on the horizon, I don't see these gains sticking around very long. We are still in a major bearish downtrend, with GM layoffs looming, tariff rates, and the forecast for a...
An earning over prediction has sent this market into a 'good standing' position for the neutral area. Assuming that earnings will not beat prediction, due to tariffs, I expect a major downtrend continuing. If we do not stay in neutral territory, expect a straight downward selloff.
Technical Analysis - None Fundamental Analysis - The Analysts are Wrong Stock will probably dribble down to 8 before August 6th earnings and then will blow out
after nice consolidation TEN created a new high today. a low vol today but note the CMF is positive and high and indicate that the last decline was a buying point. the downtrend in the momentum was broken and is increasing to the long side, target at 62$ but keep an eye on the channel for upside. stop at close below bottom trendline GL