Stock in Focus: Trans-Asia Oil and Energy (TA)

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Trans-Asia Oil and Energy Development Corp. (stock symbol: TA) made a good showing and has climbed since the start of the new year. From a 1.41 low, the rally halted around the 2.00 psychological level (high of 2.04) and price started to ease from then.

TA Daily chart, January 28, 2014

TA Daily chart, January 28, 2014

If price retreats further, it may revisit 1.40-1.60. Support around 1.40 must hold (1.37 set on Dec12 is almost a 1-year low). On the upside, this stock must advance through 2.50 (ahead of the gap around 2.60) to keep the bears at bay.

The MACD Oscillator (MACD-O) remains above the zero level but this could change if price eases further this week.

Do you have TA in your portfolio? Share your thoughts below!

 

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