TAL Education GroupGiá lên
TAL education may offer an great return an expected retracement
TAL is down 77% since feb 19 this year following some regulatory news surrounding the education sector. It was at a high of $90, currently trading just under $24.
When stocks trend they never go up or down in straight lines, they have retracements where people take profit or attempt to catch a reversal. The larger the moves/timeframe the larger the retracements that can be seen. In the chart above is the 30min chart zoomed out to show 2 large leg downs marked with yellow trendlines. The first which started after the news came out lasted from $90 to $50 before retracing 38% to 65ish.
The current leg down has lasted from $65 to ??? 20ish. We dont know for sure if the recent trend line break is going to mark the start to a retracement but it may be worth a shot as another 38% bounce would put TAL into the high $30's.
When stocks trend they never go up or down in straight lines, they have retracements where people take profit or attempt to catch a reversal. The larger the moves/timeframe the larger the retracements that can be seen. In the chart above is the 30min chart zoomed out to show 2 large leg downs marked with yellow trendlines. The first which started after the news came out lasted from $90 to $50 before retracing 38% to 65ish.
The current leg down has lasted from $65 to ??? 20ish. We dont know for sure if the recent trend line break is going to mark the start to a retracement but it may be worth a shot as another 38% bounce would put TAL into the high $30's.
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