The chart sure is looking pretty nice, your take on it seems much the same as mine. We had a neat positive channel starting around the beginning of April and after a bit of a shake there was a breakout late last month which didn't quite hold but quickly came back last week. It seems the first attempt at breaking out triggered some profit taking, but the demand was there and quickly soaked it up and took TNT back into the breakout range, which caused me to buy in for the first time last week. Since I bought we've had a new three month high each day (three sessions in a row now). Definitely looking good.
11c seems within reach now, and if we can break that level (which could be a point of resistance or when we get to the region we may rocket straight through, difficult to predict) we'll be on a two year high, and 14c is possibly the next point of resistance, and beating that would put us at a three year high. Definitely possible.
It looks like there were two rounds of profit taking in mid and late June, so hopefully the loose hands have been cleared out and we're set for a good run from here.
The fundamentals were what first caught my attention with cybersecurity likely being an increasingly important/lucrative thing and TNT being the biggest player on the ASX (someone correct me if I'm wrong) and some positive developments seeming to be shining a light over TNT's shoulder, and when I checked the chart I also liked what I saw. Happy to be on board!
TNT Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
