TGR 0.00% $5.22 tassal group limited

TGR Chart, page-117

  1. 6,633 Posts.
    lightbulb Created with Sketch. 615
    Its been a while since i have 'read the tea-leaves'.

    A gap formed on the 9th due to the Huons takeover offer making us look cheap.
    Mr Market made a HUGE effort on the 18th to close the gap shortly after the results with the price varying by about 4% during the day.
    Gap theory is one of the dark arts that only a few follow, i think it should be classified as a failed breakaway gap.
    https://www.investopedia.com/articles/trading/05/playinggaps.asp

    We currently appear to be in a wedge formation, resistance around $3.60, with support rising to now much below $3.60.
    SP went above that yesterday, but a breakout is supposed to happen on high volume.
    One of the signs of a wedge is declining volume, which we clearly have.
    So look for a change in volume to see the end of this wedge.
    https://www.investopedia.com/terms/w/wedge.asp

    https://hotcopper.com.au/data/attachments/3538/3538153-ff010b291fe4f8b93ea88f875d8f3819.jpg
    Last edited by bug1: 02/09/21
 
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