NEW BEARISH Plays
Teck Resources - TCK - close: 29.18 change: -0.80
Stop Loss: 30.25
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.0 million
New Positions: Yes, see below
Why We Like It:
TCK is in the metals and minerals business. The company's biggest products are copper, coal and zinc.
Shares have been underperforming the market for weeks. The sell-off really began to pick up speed following the company's earnings report on Feb. 7th. Since then investors have been selling the rallies. Now shares of TCK are poised to break down to new relative lows again.
I am suggesting a trigger to launch bearish positions at $29.00. If triggered our target is $26.25.
Trigger @ 29.00
Suggested Position: short TCK stock @ (trigger)