Titan pierces through an important support level, which is what could be a trend defining one. Price range offers support through a Rising Trendline, 100 SMA and price support of 1150. The fall is largely triggered by the news of a slow down acknowledged by the management.
However, the suggestion would not be to short sell right away but to wait for today's close. A close below 1150 will definitely invite more bears; 1075 and 1000 is where the bears might think of taking a break. Alternatively, if the stock somehow manages to get back in and closes above the range 1150-1170, we would consider it as a good opportunity to go long and Risk-Reward would be extremely favorable. Hence, in all case today's close is the deciding factor.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
However, the suggestion would not be to short sell right away but to wait for today's close. A close below 1150 will definitely invite more bears; 1075 and 1000 is where the bears might think of taking a break. Alternatively, if the stock somehow manages to get back in and closes above the range 1150-1170, we would consider it as a good opportunity to go long and Risk-Reward would be extremely favorable. Hence, in all case today's close is the deciding factor.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)