Tata Motors At Major Resistance Plus Topping Tail
Tata Motors Limited (NYSE:TTM) has had an epic move higher since the new year. On the last trading day of 2011, Tata Motors closed at $16.90. The high of today was $28.74. When finding a good short opportunity, a pro trader must look at the daily chart and find the best resistance point. This level is clearly between $28.75 and $29.00. In other words, this level has been tagged as of today. In addition, there is a topping tail forming on the daily chart. A topping tail is a great short signal.