Tuesday’s breakout chart for Tree Top Industries (OTCBB: TTII) could likely be an indication of pending news about its announced letter of intent to acquire Jewelry Repair Enterprises. As seen below, today’s close at 0.11 at 22.2% for the day definitively broke trend and confirmed a bullish break upward. The end of day volume was very impressive with no “paint job” at the close to give a false appearance of a good gain. The last trade of the day was for 10,000 shares at the ask of 0.11 to end the day’s trading with a very bullish candle.
In my opinion, TTII has a confirmed breakout chart and will likely trend higher or rocket upward depending on if additional catalysts will be involved. As always, please do your own due diligence on this stock and ascertain the risk/reward ratio and determine if this stock is appropriate for your level of risk.
Following are a chart of the 3-month's action indicating today's breakout and the last trades of the day today indicating a bullish close and possible catalyst coming soon.
Disclosure: I am long GOOG.
Additional disclosure: I do have a long position in TTII (ticker symbol not seen as correct per Seeking Alpha criteria). I have and will not receive any compensation to write this article.
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