To review TW’s stock, please take a look at the 1-year chart of TWTC (TW Telecom, Inc.) below with my added notations:
TWTC has been trading sideways for the last 9 months. Over that period of time the stock has formed a clear resistance level at $32 (red). In addition, the stock has also created a strong level of support at $28 (blue). At some point the stock will have to break one of the two levels that the sideways consolidation has created.
The Tale of the Tape: TWTC has clear levels of support ($28) and resistance ($32). The possible long positions on the stock would be either on a pullback to $28, or on a breakout above $32. The ideal short opportunity would be on a break below $28.
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