TOYOTA80 trade ideas
TM Continues Pattern of Higher HighsTM continues it's pattern of higher highs after the end of a long downtrend. Expect a long uptrend as this very undervalued stock with stellar fundamentals continues to rise. Watch stochastic for good entry points. There's still a long way up before it reaches anywhere near full valuation.
Also keep in mind the company is rewarding stock holders by aggressively buying stock back with their huge surplus of cash. Dividends are also being raised.
Higher highToyota has it's first higher high since Nov. After record breaking profits announced, the company is buying back shares and increasing dividends yhoo.it This will push the price higher and will continue through July.
We've seen the first higher high since November as a result. I will be looking for more price action and volume to confirm, but my early entry price target is still in the neighborhood of between 107 and 109. In any case, I believe we've seen the bottom at 103.38.
