TRW Continues to Run
TRW Automotive (TRW) is moving higher again, extending its four-day rally to nearly 15%. The auto parts company is up more than 5% on heavy trade after opening the session with a powerful gap higher. Volume will be well above average for the fourth straight day as TRW recovers after hitting fresh lows just last week. Investors were very aggressive during Monday's pre-earnings action and are following through with an equal push today.
TRW Automotive (TRW) Source: TradeStation View Chart » View in New Window »This morning's post-earnings gap up lifted TRW above its overhead 50-day moving average for the first time since a deep selloff in early May. This is quite a reversal from last week's fall to fresh bear-market lows. From the ominous looking February/March double top TRW had dropped more than 30% at last week's lows. The fall pushed shares to within pennies of the 2012 lows set in the first week of January. Patient TRW bulls took advantage shortly after the $34 level was pierced. What is in place now is a solid bottom with much more upside potential....174 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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