TSO Going down?

2 Nov 2013

TSO retraced to the neckline of its Head and Shoulder pattern last week with two attempts to break the downtrend line resulting in Shooting Star doji. On Thursday it made another attempt also resulting in a shooting star doji. This would indicate a downside move, which if past history can be relied on, would mean a 30 - 35 (trading) day move to $35.00 and possibly $32.00 where it would meet it's long term uptrend line.