TNT Chart, page-4660

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dbd25

6,756 Posts.

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31/03/22

13:12

Post #: 60548920
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Originally posted by Sdaji: ↑

Do we want meaningless hyperbole and unbridled, unconditional, unfounded bullishness, or do we want to keep it realistic? If raining on the parade is unpopular I can quietly stop posting, but this doesn't seem well-grounded.

TNT's SP is not going to "fly" just because the MACD is over 0.

In reality we had a blip on the chart presumably in response to the federal budget. That excitement was short-lived, evidenced by yesterday's candle ending up very bearish. We're currently staring at a gap on the daily chart which is probably going to close, bringing us to 16.5c. The blip of excitement due to the budget didn't take us above the channel, regardless of whether you consider the top of the current channel to be 18c (as was suggested yesterday) or 19c (see my previous post for the explanation there).

Since we bounced off the top of the channel/came down off the high so quickly and ended up with a nasty black bearish candle, we're likely going to revisit the lower part of the channel, helped along by that gap at 16.5c. In the absence of positive news I'll be surprised if we don't close that gap.

We probably need some news very soon to regain the momentum; we're already losing it (if you can call that blip 'momentum' at all) and have just about stalled. With a positive announcement, yes, we could break out of the channel. Without that, we look most likely to bounce around within the channel for a bit longer. Surely by now we're all aware that the market isn't exactly in love with TNT and will need something more substantial than a MACD figure >0 in order to fly.

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I agree. I thought the SP might fly up and into the 20's on this announcement, but it just seems to be struggling in the high teens. Just too many sellers, perhaps planning to get out on the next surge of the SP. I see the SP staying range bound between 15c-18c until the Q3 4C, and maybe even the Q4 4C. Need some big news to go up and stay up.

All IMHO, DYOR

TNT Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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