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
3.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $38.11M |
Open | High | Low | Value | Volume |
3.1¢ | 3.3¢ | 3.1¢ | $37.82K | 1.196M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 1128485 | 3.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.3¢ | 80492 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 1128485 | 0.031 |
4 | 1485283 | 0.030 |
2 | 383384 | 0.029 |
5 | 270000 | 0.028 |
2 | 385190 | 0.027 |
Price($) | Vol. | No. |
---|---|---|
0.033 | 80492 | 3 |
0.034 | 115000 | 1 |
0.035 | 331793 | 2 |
0.037 | 125177 | 2 |
0.040 | 248697 | 2 |
Last trade - 13.45pm 19/07/2024 (20 minute delay) ? |
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TSO (ASX) Chart |