A few months ago, I noted Scott Bleier’s (@CreateCapital) thesis of probing long-term opportunities presented by the European debt crisis. The main idea I charted was French energy giant, Total. Click here to see that full blog post. Updating the monthly chart of TOT, you can see that the high yielder has held onto the major, multi-year $40 level as firm support. While the chart has more work to do to repair the damage seen over the past few years, as a long-term idea I continue to like the major support thesis.
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