TRS has been in a long-term downtrend for more than 10 years during which it has seen 3 (4 if you count the recent spring up) tradeable sustained spikes which appear to be complete price cycles – although it is usual for price to increase from cycle to cycle, whereas TRS has fallen. Was March a bottom? With the stock having lost an eyewatering 90% since its all time high in 2009, you would have to hope so but couldn’t be sure. Since July price has been building a pennant pattern, a continuation pattern that suggests price could go to $12 if/when it breaks up out of the pattern. Two different approaches give the same target for TRS, making it a very attractive opportunity. $12 would be just above the shaded long-term channel so there is a chance it could fall a tad short (probably $11.50) but it is still a potential price rise of more than 60%.
I've listed a couple of other likely upcoming trades on my web site for anyone who wants to check out my Blog this week.
TRS Chart - could price rise 60%?
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Last
$3.14 |
Change
0.000(0.00%) |
Mkt cap ! $117.3M |
Open | High | Low | Value | Volume |
$3.17 | $3.17 | $3.14 | $152 | 48 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 534 | $3.14 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.19 | 134 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 534 | 3.140 |
1 | 5935 | 3.130 |
1 | 799 | 3.120 |
2 | 5318 | 3.110 |
7 | 33932 | 3.100 |
Price($) | Vol. | No. |
---|---|---|
3.190 | 73 | 1 |
3.200 | 1000 | 1 |
3.240 | 3564 | 4 |
3.250 | 15489 | 3 |
3.300 | 3399 | 4 |
Last trade - 11.58am 13/09/2024 (20 minute delay) ? |
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TRS (ASX) Chart |