DALLAS, Texas - TwinTrader.com announces the publication of Breakout for TR; highlighting public companies on the move and what’s behind the surge.
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“Tootsie Roll Industries Inc., through its subsidiaries, engages in the manufacture and sale of confectionery products in the United States, Canada and Mexico. The company sells its products under various trademarks, including Tootsie Roll, Tootsie Roll Pops, Child's Play, Caramel Apple Pops, Charms, Blow-Pop… Tootsie Roll Industries distributes its products through candy and grocery brokers to wholesale distributors of candy and groceries, supermarkets, variety stores, dollar stores…
“Mario Gabelli, the hot fund manager of the Gabelli Growth Fund of the 90s, was interviewed at Barron’s. Gabelli believes Tootsie Roll is ripe to be taken over. The angle on this stock, according to Gabelli, is that a sale would coincide with retirement of the CEO…
“Tootsie Roll looks overbought. The RSI has moved from 30 to above 70 in three weeks due to rumor of a takeover. The stock is dangerous to buy at this time. A drop back to the $27 level is a better buy point. This stock may be better trading than taking a long position to hold for the long-term. The MACD is clearly overextended...”
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Source: TwinTrader.com
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Scott Sanchez, (214)-317-5947
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