Last time I posted a chart on TLS I called bearish reversal from its recent high and proved to be right as the sp did retrace... Even though my target ($3.43 did not get hit it proved to be the right call...
So where are we now? Todays movement saw a bullish break out of the pennant... Some chartist measure the move from from the bottom of trend to the top of the pennant.. Others measure from bottom of the trend to middle of the pennant.. I've taken the conservative approach of that move... The bullish move out will almost be to the same measured move in... So in other words I have a P/T of $4.02..
Indicators- All indicators certainly suggest more bullish moves in the short...
No doubt TLS is a favorite at present and do you blame investors for that as TLS offers good yields even at these prices and is far more less of a risk than holding big mining stocks like BHP,RIO etc etc
Referring to my post about bearish engulfing and indicators. As you I've highlighted bearish engulfing and indicators...
All indicators pointing south at present which suggest a pull back on the sp... Monthly @ 3.45 would be my first target, lets how it plays out...
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Name changed from demontrader. 25/5/12.
Markets can remain irrational longer than you can remain solvent
chart- bullish pennant breakout
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Last
$3.85 |
Change
0.010(0.26%) |
Mkt cap ! $44.48B | |||
| Open | High | Low | Value | Volume |
| $3.87 | $3.89 | $3.83 | $65.77M | 17.07M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 64426 | $3.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.86 | 192676 | 8 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| TLS (ASX) Chart |