TNR has been performing very poorly since May-2021 when it halved in price. It has been in a sideways pattern since then with a pronounced selldown last December. The daily chart says it needs to comfortably break out above 3.4 cents to start a potential upwards move.
There is interest today since the start of business on a shocker of a day for the ASX. That 'bad day' movement is not necessarily unusual for stocks on the move but for TNR it is most unusual. We know news is pending but news has been pending for this company for a long time now.
There are no big cahunas buying but there appears to be munchers buying reasonable lots on a very bad ASX down day. I may be wrong but this has all the hallmarks of a leaky ship. If it moves in the next few days watch the 3.4 cent resistance line. A key message will come if participants buy strongly at close of business today. Otherwise we could be back to same old / same old.
Lets see what happens - Dow Futures up 50 points at the moment - keep it that way. This is not advice - just the musings of an observer.
TNR Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
