Friday's price action wasn't good. $2.94 and that uptrend line broken.
Next support is $2.87 low of 23 March.
What we want this morning is a reversal. In other words, a touch of $2.89, then support coming in at the pandemic low of $2.87, a reversal and a green candle by day's end. Need a green candle here. Best case scenario right now.
If not, then what is taking place since earnings announcement is this thing is in serious correction mode for the subdued earnings, headwinds and challenges for 2021 that Penn keeps painting for this stock. And that is a hefty but common 25% correction that has been happening to TLS past 5 years since Penn came in.
Applying -25% to the recent high of $3.54 and you get $2.65. Yes, another visit to the all time lows.
The stock is in serious trouble, it is dead. Pounded again and again for the past 5 years with nothing positive in sight. 5g and automated cars? Dreaming. People cant get out of the house and drive beyond 5km. People in survival mode.
TLS Price at posting:
$2.90 Sentiment: Hold Disclosure: Held
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