Saturday, July 05, 2008

TPX Update for 07.05.2008


Monthly chart shows just how much was lost in just a short time. Currently the price is below the low and key LIS of $9.41. The stock hit a new all time low last week at $7.51. This is quite the tumble from the $17 area that Aim Trimark mutual fund managers bought earlier this year. There is no buy signal/pattern evident on this timeframe.

Weekly chart shows just how bearish the stock remains. No buy signal/pattern evident on this timeframe.

Daily chart shows that an all time low was made last week at $7.51. At this level, there were initial aggressive bottom pickers who stepped into the stock. However, they were met with yet still selling, and they were unable to take stock price any higher. The first downside target has been achieved (and exceeded), and consolidation and profit-taking would be expected at this point. Let's see if it happens or not.

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