TEL is at the beginning of a significant breakdown
Based on the previous analysis in TEL, traders should ensure that their portfolio can handle increased risk from an additional trade. Also check to make sure that TEL increases diversification of your current portfolio. Lastly, smart traders check how a new position relates to not just their account, but the current market action as well. For example, take a look at the S&P 500. Is it moving higher or lower? Has it recently moved through a key resistance or support level? Be sure to match up your trading actions on TEL in relation to the overall market movement.
Right now the custom sentiment levels, measured by Traders For Wealth, indicate an increasingly negative bias toward TEL. In addition, the price action in TEL has been moving down as well. This could be a strong sign of an impending breakdown. Traders should view this as a very bearish trade and make sure it matches up with the overall market, and their current portfolio.
Te Connectivity Ltd (TEL)
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies. Its products are used in the automotive, commercial transportation and sensors markets. It sells primary products, including terminals and connector systems and components, sensors, relays, application tooling, and wire and heat shrink tubing. The Industrial Solutions segment is a supplier of products that connect and distribute power, data and signals. The Industrial Solutions segment offers products, such as terminals and connector systems and components; heat shrink tubing; relays, and wire and cable. The Communications Solutions segment is a supplier of electronic components for the data and devices and appliances markets.