TECK Continues To Deliver
It’s time to pick up the threads of some of the stocks I cover here on a regular basis, and the first of these is TECK which the last time we considered this stock was trading around the $15.75 per share area and was one of several I suggested was developing bullish momentum.
For this stock, December was one of consolidation, but with the start of the new trading year TECK has picked up the bullish tone once more, with yesterday’s price action seeing it move higher on a gapped up open on good volume and taking us to the key level of $19 per share on the weekly chart which I mentioned in my last analysis. As we can see this is being tested on the daily chart at the time of writing, and if we can hold above this level on good volume we can expect this one to keep delivering, and with a strong platform of support now in place around the $18.75 area this looks promising. In addition, as can be seen from the daily chart, the volume is falling away sharply on the VPOC histogram, so yet further evidence we can expect further gains over the coming weeks.
(Click on image to enlarge)
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