Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Monday, February 6, 2012

Transgaz Medias (TGN) Technical Analysis 2012.02.06

Transgaz Medias shares price evolves in the mid-term (since August), in an ascending channel bounded by T1 and T2 trend line.

The 245.00 RON area represents a resistance, at least temporary, which may attract the attention of some sellers. Highs from 248.00 RON level represents the first resistance for the next session (from Monday). The most important support zone is between the levels of 225.00 and 229.00 RON. The daily support is given by 240.00 RON level and it can be taken as reference level for an eventual sale (stop loss or take profit).

The trend remains upward but, technically speaking, the price is close to some resistance levels (T2 trend line, 245.00 RON level) and the chances for a correction are high.

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