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Tuesday, February 14, 2012

TNGO

TNGO hasn't been trading long enough to form a 200dma, but it has been long enough to form a first base, which it started in late December. While you like tpo see a breakout from a decent base, the timing of this one is a little suspect. You like to see bases like this in times of market weakness, not rip your face off rallies; thus, we get a weak price relative line. That flaw is probably not fatal here, and this got really good volume today. I have no idea what they do, and wouldn't know the name of the company is it wasn't printed on the chart, but this one is worth taking a closer look at.

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