There could be a bullish engulfing patter forming on the weekly chart, which is sign of a turnaround.
On the other hand, if it doesnt close above $2.93 (highest close of last weeks uptick) then it could be the start of a new downward wedge.
Or looking at if from market depth, those 500 odd buyers have been waiting for over a week for $2.80, they got close yesterday at $2.81, and this current uptick could be another bounce of that still very strong floor.
From an earnings point of view, im bearish on earnings, but realistically, if earnings decline at 10% per year, SP upper and lower bands should track that roughly, so around $2.35 should be a lower limit. However $2.70 is last years $3.00, which could be a reasonably good entry point, for an upto 6 month hold.
TLS Price at posting:
$2.92 Sentiment: Sell Disclosure: Not Held
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