Trade Ideas: TECD

Small handle-on-handle formation (support for the smaller 3-week handle can be found at $40). The larger handle holds support at $39; a confirmation of the $33.04/$33.80 double bottom from which resistance was set at $39. Projected target for the formation is $45 which is near November 2004 highs.

Tech Data Corporation provides information technology products, logistics management, and other value-added services worldwide. It distributes microcomputer hardware and software products, including peripherals, systems, networking, and software to approximately 90,000 value-added resellers, corporate resellers, retailers, direct marketers, and Internet resellers.






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