The wait is over for TA. Price currently inside the Kumo

TA’s wait and see resulted in a rally bringing the price of TA to 2.37 per share. After the long sideway movement, it move up and created a White Closing Marubozu which could mean a start of a new trend.

Based on Ichimoku system, we have a weak bullish signal which we saw last week and it has been confirmed by our Chikou Span today. Current price of TA is inside the Kumo which is not a good time to add or make a new entry since this is considered “no trend zone”. For those who already have this last week may hold and wait until bullish signals will be turned off. TA is poised to break from the Kumo as momentum is just picking up.

For those who want to get TA, this may not be a good time. Wait for the breakout from the Kumo which is a bullish signal.

RSI or Relative Strength Index is already above 70 which should alarm new entrants although we have seen TA to hit 90 level in its 1 year time frame.

Caveat!

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