Tata Motors Ltd. (TTM) is looking good to us right here as it flashed a pocket pivot buy point four days ago, as we see on the daily chart below, and has held in very tight over the past three days, including today. The Indian market has held up well and has actually been hitting new highs as it outperforms the more established European, Asian, and U.S. stock markets. Worldwide, auto sales are expected to increase despite the soft markets in more developed countries like the U.S. India is also outpacing China, Russia, and other developing countries. With all this as a backdrop, we like TTM right here, using the 50-day moving average as your guide for a stop.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.