TASI Technical OverviewPosted on Sunday, November 27 2016 at 6:01 am GMT+0000
Strong upside speed.
A clear break above the weekly top at 6875 will shift the long term outlook to Bullish and raised confidence for an extended move targeting at least the 7800 level. The recent breakout above the 6690 was the move that restored the medium term positive picture carrying on further Bullish advances. Initial medium term targets being reached at 6895 allowing for partial profit taking and trailing positions higher to the entry level. As the same circumstances being valid for short term positions, failure of the share to remain above the 6690 will trigger an exit of positions from both scales, since then the market will be searching deeper for a support to contain any probable pullback.