I'm back in TCK again. TCK is one of my favourites. I'd very much would like to keep it as a core position if the market permits. That's why I've been keeping an eye on TCK for a re-entry since I cleared my position a couple of months ago.
[caption id="attachment_1021" align="aligncenter" width="500" caption="Teck Cominco"][/caption]
[caption id="attachment_1022" align="aligncenter" width="500" caption="Teck Cominco"][/caption]
Upside: Figure 1, bouced at 20 day MA support. 20 day MA crossing over 50 day MA soon. Price still within uptrend as shown in Figure 2.
Downside: TCK in short term downtrend. Indicators showing signs of weakness.
Support: \$5.40 and then major at \$5.0