Interesting action on the last day before international turkey eating day! TNT broke above the resistance line, which was quite a surprise, especially as it required a gap up. It didn't quite close the gap which means we'll almost certainly see it touch 16.5c in the next few sessions, probably on Tuesday, and I'm guessing it'll likely be Tuesday's opening price unless it's 17c without the bid on 16.5. The good news about this gap at 16.5c is that when the market comes back on Tuesday, the gap will be on the line of resistance, not under it, so it could potentially bounce off it and continue up (but of course, it may also fall back below). If it doesn't close for a few sessions, the gap-closing target will clearly be above the resistance line, which perhaps suggests the price will remain above it, which should be quite bullish. It's an ambiguous way to break the long term resistance line, but that's better than not doing it at all. It'll be interesting to watch the next few sessions in between turkey day and international getting $#!t-faced night. Still happier to be watching from the sidelines at this stage but there's definitely a potential ray of hope shining over the shoulders of holders; it's definitely a big positive to be on the other side of that line while enjoying your pudding.
Good luck and enjoy your days tomorrow, everyone!
TNT Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
