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Low TECK Stock Pick

Published 09/23/2019, 12:34 PM
Updated 07/09/2023, 06:31 AM
TECK
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I wanted to highlight one of my shorts in particular on this quiet morning: Tech Resources (NYSE:TECK). As you can see, the long-term chart illustrates two prior massive tops, both of which were followed by a hearty plunge. The most recent reversal, which is not tinted, has good prospects as well for falling more, even though it has already lost quite a bit of value from its peak.

Long-Term Teck Resources

A closer look at the recent action shows the well-formed symmetric price triangle as well as the recent price gap. I’ve tightened up my stop to 17.35 on this one, with an eye toward much lower prices.

Shorter-Term Teck Resources

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