TRS Chart - could price rise 60%?, page-2

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26/10/20

16:40

Post #: 48394781
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Originally posted by Greynomad73 ↑

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.

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I was looking for a profitable exit just north of $7.20 but that just didn't play out today (down 4%) looks like there are too many resistance levels up to $8, it will take a lot of buying to break above this value, with xmas coming it may be a positive but doubt a break above $8 in the short term until the leases that expire this year are finalised.

TRS Price at posting: $6.63 Sentiment: None Disclosure: Held
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TRS Chart - could price rise 60%?, page-2

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