It’s far from confirmed, but the last two days, with the impuls from ever rising oil prices, TSL could finally break through it’s 200 day moving average. Here’s the chart:
If we close above 45 and hold tomorrow, we will likely have a new leg up. But one also has to realize that we’re getting close to earnings, in their last earnings call, they talked of some margin pressure.
In a way, this is good, so expectations might not be too high for the first quarter. But then again, most observers realized that they would have a blast in Q4 2007 because of a big increase in production capacity, and we had the mother of all sell-offs in the first six weeks of the year, before the earnings.
Tough call this. Wait for confirmation.