As can be seen above, the 30 day chart is in a downtrend from over 40c to under 30c, albeit it still has to break the previous low of 28c imo to cause alarm bells, , the 5 day is in a downtrend and has broken the previous 32c low around end of Oct, the 12 months is in a consolidation as rightfully pointed out so of less concern at this point and the 5 year shows a clear downtrend Since July 2014.
Looking at the 5 year chart, I never like to see the downtrend more than 50% down on the previous high, and it is close enough to cause some concern.
That said it overshot to 86c imo so prefer to use the 58c price target when at last large volume, so 29c or lower will cause concern imo.
Bounce off 28.5/29c would be ideal at this point, if breached then high teens to low 20's is not out of the question.
A bounce would need to reach 35c to confirm that it has changed direction, again just my opinion.
TON Price at posting:
30.0¢ Sentiment: None Disclosure: Not Held
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