TECH DATA (TECD) PLUNGES: WHAT TO DO NOW?
Tech Data (TECD) has plunged after reporting earnings. The earnings were not bad, however, the bullish gurus had pushed Tech Data much higher than it deserved to be. The same bullish gurus are now proclaiming that the fall is a buying opportunity around $48.00. Well, Tech Data has now broken down from the support at $48.00 and is now trading at $46.80. We disagree with the bulls. The Quantitative Screen of the ZYX Change Method shows the fair value of Tech Data to be $41.00. There is a strong probability of Tech