chart - trend is your friend

Well TLS just keeps going and going and going..
Well not only did it hit my measured move out of the pennant but it blew past it.... As I said in another post.. I booked some profits on my measured move but still holding some..

Today's price move was very interesting as sp shot up but then retraced.. So I was curious to find out why and the answer lies way back in DEC 2008 on the daily & weekly charts..

Daily Gap from DEC 2008- Gaps always get filled no matter how long they stay open and doesn't matter it the gap was created on a uptrend or down trend.. Bottom line is they get filled..

If you look at the daily you'll see the gap circled from Dec 12th 2008 top of the down gap was $4.09 hmmmmm, well is it a coincidence that todays high was top of that gap? which is resistance too..

So knowing that gap is now closed... Can TLS continue on its upward path..
Weekly chart.. A clue to further gains may lie in the weekly and monthly ( I'll get to the monthly shortly)

Golden cross on the weekly- Some weeks back we had what we call a golden cross, this is when the 50 MA crosses above 200 MA which is suppose to be a bullish move.. As this has just recently happened the chances of further gains are likely IMO

Monthly chart- To me the monthly gives me the best indication of future price movement.. What I really like on the monthly is the MACD.. MACD has not been this bullish since 2007 on the monthly chart... Also you will notice the gap between the MACD v signal line.. IMO the wider the gap between MACD and signal line suggests further bullish moves in the sp..

Conclusion - Bit of resistance ahead but can see further gains with TLS.