TDC trade ideas
$TDC Weekly Setup + Trade IdeaTrade Idea: Buy TDC on a break above the $32.39-33.42 zone with stops at $30.04.
TDC Double Cup & Handle patternI published an idea on this a little while ago, with some minor modifications the formation still looks to be intact. Indicators show the stock to be nearing oversold territory. As an added bonus, a Morning Star Doji formed today, which would be confirmed with a gap up tomorrow.
See the link to my original idea for more information.
TDC Double Cup & Handle?! Strong case for breakoutOver the past year and a half TDC has formed what looks like a double cup and handle, where the handle for the first cup&handle formation is the cup for the 2nd cup&handle.
Supporting Information:
- Formation began with a large gap down from $36.12 to $33.03 on 8/6/15
- A strong resistance/support line (currently support) at about $30.70, which also constitutes a 38.2% fib retrace from TDC's high on 2/9/17 at $33.32
- From TDC's low of $21.98 in January of last year, the stock pulled back then bounced nicely after retracing 61.8 % (fib)
- Both Stoch and CCI are currently in oversold territory
- Since TDC began consolidating on 2/13, volume has been lower on down days and higher on up days, most recently showing declining volume as the stock has dropped
- 50 day MA could provide additional support when it catches up to the stock
I would recommend waiting until there is a clear breakout of this small pullback, preferably on strong volume (at least higher than average) with a close at or near its daily high . If this happens I would expect the stock to retest its high (between $33.00-$33.30), probably consolidating just under resistance until it finally breaks out. After a breakout above $33.30, next resistance would be after the stock closes the gap created on 8/6/15, with resistance between $35.80 and $36.12
And as always, make sure you have a stop loss in place, which I would place below current support between $30.50 & $30.30 and adjust up if the breakout occurs.
TDC found strong support and looks ready to goTeraData has been hot stock during 2010-2012, then it lost its luster after soften in margins. But in terms of net profit and total revenues it is showing us solid numbers.
Stock found strong support at $39-$40. Looks like funds accumulate this stock during last three quarters. Yesterday, it gave us Day #1 (broke of flag and trend line). If the next days it will hold 1/3-1/2 of its range and will go through pivot high $43.65 then it will open doors to upper resistance at $49. With stop below $41.70 (bottom of flag) and more strategical $40 makes this trade acceptable from R/R point of view.
Company will release its earnings on 7th of August before market opens.
TDC | Triple SMA Crossover | Bullish Divergence | Falling Wedge- Look for a strong potential move to the upside due to pretty strong divergence since Nov 2012
- SMA(21, 50,100) crossover confirmed a bullish trend with the stock seeming to have found a higher bottom.
- SMA(200) and $60 price level will act as strong resistance.
- Stock broke out of falling wedge pattern that's been forming since July 2012
- A safer way to play this stock would be to wait for confirmation by having the stock reach a higher low above this level.
Let me know if you agree/disagree or just feel like going on a rant =)
