TTM is approaching a resistance level, so far volume is moving with price. I feel TTM is still just a short dollar play, but still huge longterm potential for India autos. Longer term down trend is busted, but even long dollar strength has depressed the stock.
Not a call for up/down, BVI looks to say (change in direction) so test and fall back, but lots of China...
For some reason, I don't see the option to be able to take a screenshot. I wanted to post this as an update on the first chart I posted on TTM. Hopefully someone was able to get in on this trade. It looks like it wants to pull back again. Unfortunately I've been busy recently because of my job, I wasn't able to get in on this trade :'( lol
Tata Motors has been in a prolonged period of consolidation since February 2015 and could have already completed this consolidation, or if the C of the Y expands, close the $ 10 to December 2018 downtrend in the next potential trend reversal area. To prevent the second target from being activated, the bulls must now show strength.
Will be watching for the red downtrend line break. The Fibonacci support around 15 is also a long term support
Ups and downs in life are very important to keep us going, because a straight line in an E.C.G means we are not alive.
- Ratan Tata
I like this company, and it is trading at a discount now. Valuation is good, although not the best, but since it is so washed out, and autos are likely to gain traction, it is a good chance to pick up some shares and gain exposure to it. Risk $1.8 down, to make more than $3-5 on it over the next 3 months.