Hey TSO LTHers!
Nice end to the week with a bonza announcement and I think a change in sentiment to a postive outlook.
Looking at the chart for the last year (see below) we have a huge Descending Wedge Pattern, which is a bullish reversal pattern.
Today's close is a green hammer candle (which is a bullish reversal pattern, see chart below) maybe the beginning of a confirmation breakout from the descending wedge. Next week's price action will confirm.
I'm reasonably confident that this week's close may represent the beginning breakout of the descending wedge.
We have a bullish reversal pattern, the descending wedge, which contains a bullish reversal hammer candle at it's apex. A bullish reversal pattern within a bullish reversal pattern.
I'm expecting a series of higher Highs and higher Lows over the next several weeks to reach a calculated target of 38.5c (24c wedge width added to today's 14.5c close). This target corresponds nicely with a Fibonacci 38.2% Retracement of 38.3c from the ATH of 52.5c
I bought a couple of small parcels at these bargain basement prices today & yesterday. My TSO total holdings are now showing a 15% loss. I'm happy to hold as this loss will soon be back in the black.
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Last
2.7¢ |
Change
0.001(3.85%) |
Mkt cap ! $40.86M |
Open | High | Low | Value | Volume |
2.7¢ | 2.8¢ | 2.6¢ | $21.20K | 792.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 93370 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.8¢ | 115527 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 93385 | 0.027 |
3 | 933860 | 0.026 |
4 | 1368714 | 0.025 |
1 | 300000 | 0.024 |
2 | 525000 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.028 | 113076 | 8 |
0.029 | 157883 | 1 |
0.030 | 61488 | 2 |
0.031 | 119000 | 2 |
0.032 | 1088497 | 3 |
Last trade - 11.42am 19/08/2024 (20 minute delay) ? |
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TSO (ASX) Chart |