LSE:Tesco Plc - Sell @ 200 ? Dead supermarket

[phoenix25140]

Tesco's result were out earlier today and the result were horrific. Drop in ops profits, sector competition yet the stock was up on the day. Does anyone have a sell trade on their sights in this stock @ 200 provided reversals signals present themselves?

Opinions?

Graph attached.

 

[scottuk99]

200 does look to be the new daily resistance. A technique i use is I look for a new 3+ month low or high in a stock, the price usually pulls back from there, usually a 3-7 day pullback, Tesco looks like it has pulled back from the low, so I'd wait for confirmation of a downtrend starting to get in short may be