Toyota Motor Share is ready for the fastest ride So wear your seat belt and ride the journey. As technical analysis suggests the stock is ready for a steady ride towards all time high.
Toyota Motor Share:
The GM Share broken out before the Auto Sales numbers. General Motor Stock: Price Action Trading Strategy. But Toyota Share is ready for a triangle breakout. One should keep a close watch on the stock. As the company releases its auto sales number this week.
Kelley Blue Book expects U.S. auto sales to increase 1.5% in August to 1.53M units. Auto maker forecasts 6.5% increase in sales to 227k units for Toyota Motor Corporation.
TM Share Fundamental Details:
Toyota Motor Corporation is Japanese Multinational Automotive Manufacturer. 52 week high/low of the stock is 123.18/103.18. The stock has a P/E ratio of 9.9. The Beta value of the stock is 0.64 So TM is a low beta share. Low Beta means less volatility compared to the index. It is an American Depository Receipt.
Best Trend Trading Strategy Ever:
As shown in chart The TM stock has a strong support at $95 and the stock has already formed a good base at $98. And the stock is now trading at falling trend line resistance. When the stock breaks out of the falling trend line resistance it will sky rocket surely.
As the Auto sales number is released by the company next week the breakout also round the corner. One can accumulate the TM share keeping $98 as stop loss for a target above $150. The TM share has major support in the zone of $94 to $98 and the stock forms higher low and lower high which is a contracting pattern. If the stock breaks out either side the stock will move accordingly.