Today was a day where TLS was tested and measured for defensiveness and bounce as I mentioned a few posts back. And she passed. A green candle was produced when many sport red candles. Opened low on the panic, but demand to buy on the dip brought it back up.
What this means is that TLS has a desire and eye on $4.00 and above once this dust settles. Bullish behaviour. Reinforced by TLS trading above both the 50 and 200 day MA.
Good for now. But let's not get too excited yet. As I have seen this before with TLS where it acts defensively on the first rough day compared to other stocks, but if world markets continue selling, then caves in on the second and third rough days and other stocks come back quicker. That is why ultimately, allow for $3.76.
I would still focus on the hourly and wait for the hourly RSI to go touch that line at "b" for a top up.
I haven't had a look at DOW futures yet. I will go do that now.
TLS Price at posting:
$3.86 Sentiment: Buy Disclosure: Held
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