london - tpt up 25% on friday , page-4

Interesting perspective from a technical point of view, as followers of this stock will know I have been very strong on this stock from a technical point of view at recent levels.

We break last months high of around 55C (MARCH as we will open April), we should have a lot of buying coming into the stock. I use moving averages and they are all in upward bias, medium and long, therefore I am anticipating a strong move over this level. The chart tells me we should at least have a crack at the old tops, sooner or later.

This consolidation phase or retracement phase since the 88c top, has been a build-up or re-charge of energy phase to push higher towards those old tops again. Basically on a weekly chart we had 5 waves down from the top, bottoming out at 44c on a 200 moving average, 50% retracement.....after moving up in 5 waves from the low of around 8 cents. If this kicks off this week it will confirm a tramploine move off of this 200 day MA.

Would not be surprised to see this head to at least 70c quite quickly, if not higher....maybe even next week.

This stock has previously made vertical moves to new highs, I don't know how this is going to play out but I am looking now for 5 waves up on a weekly chart. If we look at the last 5 waves we had an 80c run, if this is expanding we should see this stock put on more than 80c, so first target is at least $1.24...it will be interesting to see if we can hit that and which wave count it is done in......

And if we look at time in addition to price, we had a year up from 8c to 88c and now around 6 months down from the top to 44c, A 50% retracement in time as well....showing us strength remains to the upside...if we break last months high....If all this plays out, I expect a new move to last for around a year again....so 5 waves in a year on a weekly chart to take us to our next top....where that will be is anyone's guess but as an indication look at what valuations are being put on the stock at the moment and over the coming months.

I don't pay too much attention to daily charts, apart for entries and exits, as daily oscillations are too noisy to read and I don't tend to jump and and out of the market for small gains.

It will be interesting to see how this begins to play out, but at the same time anything can happen at any given moment. A break below 44c is a danger level.

Interesting week ahead, I wait keenly in anticipation.

Let's hope the k'ching, k'ching noises start again for shareholders!