TNT Chart, page-4645

The chart itself isn't saying anything too loudly or clearly to me. The long term downtrend which lasted from July (or arguably January 2021) seems to have ended and we're now in a horizontal channel which has been ongoing for about four months and doesn't really show much sign of changing. Some may argue that today's touch of 17c was bullish, but since that didn't hold and we closed on our low, it would generally be seen to be a bearish candle today.

I definitely wouldn't be buying in on the chart, and the chart alone really isn't saying much IMHO.

If you believe in the fundamentals, the picture might look a bit different; the downtrend does seem to have finished (some may say that's not confirmed, but I suspect the low is behind us) and with the seasonality of revenue, the next quarterly, due in about a month, should be good, with the following one being even better. If you do believe in the TNT story, you're probably seeing the market as not recognising the seasonality of revenue but recognising it yourself, and the market being about to take it seriously with the next two quarterlies proving it. From there the picture should be looking a lot more rosey.

I personally expect the market to start showing a little positive movement in the lead up to the Q3 quarterly, then a positive response to what I expect will be a good report, then more positive movement in anticipation of the end of FY report at the end of July, and hopefully a good response to it in August.

Of course, this is just my guesswork/feeble attempt at analysis, but if it does go something like this, the TA should start looking good over the next few weeks and the chart thread will get more interesting in the following few months.

GLTAH.