TAM finally recovering
Tuesday, September 25, 2007
Shares of TAM are trading very well in today session, gaining more than 6% in the afternoon, after JP Morgan Securities Upgrade stock to "Neutral" from "Underweight", citing that stock has fallen far enough to reflect the problems of the struggling Brazilian airline industry. Looking at the chart stock has broken recently the downward formed since July, moving investors to cover their short positions. Early on this month stock breakout $24 level producing an immediate rally on stock, so after this recommendation stock should sustain recent gains and retest again its 200 daily moving average which has been the big resistance for stock.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Labels: TAM
