TAL education may offer an great return an expected retracement
TAL is down 77% since feb 19 this year following some regulatory news surrounding the education sector. It was at a high of $90, currently trading just under $24.
When stocks trend they never go up or down in straight lines, they have retracements where people take profit or attempt to catch a reversal. The larger the moves/timeframe the larger the retracements that can be seen. In the chart above is the 30min chart zoomed out to show 2 large leg downs marked with yellow trendlines. The first which started after the news came out lasted from $90 to $50 before retracing 38% to 65ish.
The current leg down has lasted from $65 to ??? 20ish. We dont know for sure if the recent trend line break is going to mark the start to a retracement but it may be worth a shot as another 38% bounce would put TAL into the high $30's.
When stocks trend they never go up or down in straight lines, they have retracements where people take profit or attempt to catch a reversal. The larger the moves/timeframe the larger the retracements that can be seen. In the chart above is the 30min chart zoomed out to show 2 large leg downs marked with yellow trendlines. The first which started after the news came out lasted from $90 to $50 before retracing 38% to 65ish.
The current leg down has lasted from $65 to ??? 20ish. We dont know for sure if the recent trend line break is going to mark the start to a retracement but it may be worth a shot as another 38% bounce would put TAL into the high $30's.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.