Contrarian Value Ideas

[gfp927z]

Derf, With $28 K, it could be Rolls Royce or Mercedes brand golf cart :o)

Btw, taking profits on TPL turned out to be a good move. Chartwise, the first main support looks like ~ 1340-1400 (Nov trading range), which is being tested now. Below that is the 50 MA (1218). So somewhere in there might be where it firms up, but it's iffy trying to just go by the chart, since the company's news flow, plus the broader market, could be the determining factors. I don't know much about the company or sector, only the chart.

Below the 50 MA, the next support would be the 800-900 range, which is where the current big breakout started, and corresponds to the 200 MA, the 2024 summer trading range, plus the 2022 high. Chart-wise that 'should' be bedrock, but the bigger question is what company / sector fundamentals are driving the stock's ascent? TPL got listed onto the S+P 500 index on Nov 26, but if that's all that is driving the move, then some of the air might be expected to come out. There's also the 'drill baby drill' aspect, which should be helping, but otherwise I'm pretty clueless about the stock. Big gains though, so nice going :o)



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