TWE Surges Higher After Chinese On-Line Sales Decision

Shares of TWE have extended yesterday’s gains and are 3% higher at $14.70 in early trade today.

The catalyst for the sudden rally has been the Chinese government’s clarification of on-line sales regulations for offshore companies.

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Prior to yesterday’s announcement, TWE and other online vendors were uncertain of the on-line sales protocol past December of this year.

So far this year, TWE has registered over $500 million in sales from the Asian region, led by sales to China, which make up over 20% of its total group sales.

The next chart resistance level is at $15.60 with a longer-term target near $17.90.

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