Evening Folks,
Unfortunately TA wise, not a great week for TV2 and a lot of stocks for that matter with the US correction they had to have.
Looking at both the daily and weekly ichimoku charts the SP is in a confirmed downtrend with all ichi indicators bearish and in bearish territory below the kumo.
- Kumo Breakout - SP BO below the kumo (cloud)
- TK Cross - tenkan sen (blue turning MA) crossed below the kujin sen (orange std MA)
- Kujin Sen Cross - SP has crossed below the kujin sen
- Senkou Span Cross - SSA crossed below SSB (kumo twist)
- Chikou Span Cross - chikou span (green lagging MA) crossed below the SP
One positive on both the daily and weekly charts is that the kumo (clouds) are starting to look thin so it shouldn’t take too much to push the SP through resistance on any bullish news.
Enjoy the rest of your weekend.
Cheers SL
