Monday, 24 June 2013

TCK - the horror continues

With the main market again weak, and the metals seeing significant declines, Teck Resources (TCK) saw severe declines, closing -7% @ $20.27. Near term trend is a nightmare situation, and with the break of the $24s, there really is no longer any support.

TCK, daily


Suffice to say, the horror does indeed continue, with no sign of it ending.

If my near term market outlook is correct, with the sp @ 1500 within 3-7 trading days, then TCK is going to lose the $20 psy' level, and then see another fast drop to the $17/15 zone.