Tumi Holdings Inc : Bearish scenario preferred
Entry price | Target | Stop-loss | Potential |
---|
$22.84 |
$0 |
$24.49 |
+100% |
---|
We could see the end of the technical recovery regarding this value.
This strategy is mainly based on technical arguments.
Graphically, the stock went through a period of rebound in recent sessions towards the USD 23.50 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the USD 21.22 support area which will be a bearish objective.
The technical configuration allow us to predict a consolidation phase, at least in the short term. The USD 23.5 should play its full role and stop the upward trend initiated in the short term. Therefore, to take advantage of this technical correction, a short position may be opened in the current area to target USD 21.2. In case of further acceleration, the stop loss will be triggered above the USD 23.5.
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