Thomas Cook – Multi Year Breakout

Prof. Sanjay Bakshi had a recent article on why he bought Thomas Cook. You can read the same out here,

http://fundooprofessor.wordpress.com/2013/12/01/why-i-bought-thomas-cook/

So, how does the stock look Technically?

Here is a Monthly Bar Chart

Image

 

As can be seen, we are sitting just below a multi year resistance line. If the stock crosses & closes (on monthly timeframe) above 85, we should be able to see the high of 2007 (142) which in itself would mean a move of 67% from the breakout levels.

 

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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