Recovery Shares..Possible Chart Break Through...


Experienced member
As the major indices are nearly completing their bottom basing process, possible recovery shares become more attractive...especially those who have based their bottoms or just about...apart from possible news flow, charts might also help us to determine them...

Tx was working on a useful thread in this regard, we haven't heard from him for a while...I hope he is still around and will soon carry on with the good work he started a while ago...

In the mean time I'd like to pick those starting positive news flow and forming promising charts...I am sure if we all contribute and discuss about them, we might find some nice trading opportunities...

My first entry is Traffic Master (TFC)...

Current price: 319.75

Last positive news:
Commerzbank Securities has started coverage of traffic information provider Trafficmaster with a 'buy' recommendation and a target price of 400p. It credited the firm's strong product pipeline and numerous contracts with car and hardware makers.

Chart suggesting 360-370 possible in the short run if recovery process carries on...

Here is the chart...



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It never ceases to amaze me the number of times I see a huge volume spike right on the bottom......whos' the smart buyers here ....Short covering, or smart "in the know" buyers who have been tipped the wink by the mm's " it's not going any lower lads, pile in!"
Here's my two penn'orth. Inchcape has just made a 2 year high, and technically, having broken out should at least fill the gap to 512 as shown on the weekly chart. There was significant director buying on 12th April by the ceo and fd at 390 (now 466). Whilst the import of vehicles is not a business that immediately springs to mind as a "goer" in the current market, there is an undemanding prospective rating of just 6.81 and a d/y of 5.85% which is covered 2.47 times. Margins are tiny, but always have been, and traded on a rating of 10 to 15 a few years back. Possibly one to watch - I bought in on Thursaday at 445.


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