Long term support at 75 accumulated from 2011. Recently events made the stock take a hit. Such as strong JPY and Senkaku Island incident with China(nationalistic chinese stopped buying Japanese cars) But today reports came out that TM was one of the best gainers in North America in terms of sales. Main Driver: North American Trade recovery.
Technically RSI just entered the oversold territory, so the stock may still go down a bit before recovery. MACD histogram is approaching 2012 lows. So give it some time to let the downward pressure sink in, and start accumulating shares.
Strategy: Start accumulating shares now, all the way till it reaches 73. S/L @71, Target @83.
Technically RSI just entered the oversold territory, so the stock may still go down a bit before recovery. MACD histogram is approaching 2012 lows. So give it some time to let the downward pressure sink in, and start accumulating shares.
Strategy: Start accumulating shares now, all the way till it reaches 73. S/L @71, Target @83.