{"id":585,"date":"2009-11-24T16:47:26","date_gmt":"2009-11-24T21:47:26","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=585"},"modified":"2009-11-24T16:51:45","modified_gmt":"2009-11-24T21:51:45","slug":"tm-breaks-key-support","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/24\/tm-breaks-key-support\/","title":{"rendered":"Toyota’s Stock Breaks Key Support"},"content":{"rendered":"

The stock for Toyota Motors (TM) broke below the key support line of the 200-day moving average today. Since peaking in August, TM has lost 12%. TM now looks poised for a test of the summer’s lows and perhaps even retesting of March price levels.<\/p>\n


\n
\"Toyota
Toyota breaks key support at the 200DMA<\/figcaption><\/figure>
\n*Chart created using TeleChart:<\/strong> <\/a>
\n<\/center><\/p>\n

TM is a major component of the Nikkei 225, and this index has not quite broken its 200DMA yet<\/a>. Thus, there is a good chance TM will make a counter-trend bounce before resuming its steady fall. A break in the Japanese yen’s strength could also bring new life to TM, and the Japanese stock market. The yen has trended upward for seven months in a row, especially against the U.S. dollar.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: short TM<\/p>\n","protected":false},"excerpt":{"rendered":"

The stock for Toyota Motors (TM) broke below the key support line of the 200-day moving average today. Since peaking in August, TM has lost 12%. TM now looks poised for a test of the summer’s lows and perhaps even retesting of March price levels. *Chart created using TeleChart: TM is a major component of … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[62],"tags":[1600,138,206,278],"class_list":["post-585","post","type-post","status-publish","format-standard","hentry","category-technical-analysis","tag-japan","tag-japanese-yen","tag-tm","tag-toyota-motor-corporation"],"yoast_head":"\nToyota's Stock Breaks Key Support - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/24\/tm-breaks-key-support\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toyota's Stock Breaks Key Support - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"The stock for Toyota Motors (TM) broke below the key support line of the 200-day moving average today. 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