TLG Chart, page-2737

Hi Folks

I regularly chart many stocks here on Hotcopper. Usually I use weekly candle charts. TLG weekly candle chart has been confusing all of 2021 and 2022 basically is been in one long holding pattern which can be evident by the essentially flat 40WMA ( fourty week moving average red line) for those years.

To examine recent developments and to eliminate the noise the weekly candles generate I have focussed on the weekly closing price line as you can see.
Once a stable trend seriously forms I will move back to the weekly candle charts.

You can see on the chart I have the low in the week 26 June at 1.07 with A-wave rising to (a) 1.84. Then I have a B-wave retracement to (b) 1.40 which was about a 50% retracement (which is not unusual.) . I believe that we have started on the C-wave rising to 1.70 so far and I have placed an anticipated target extention (c) at around the Ext38.2% which is around 2.13. Remember we are dealing with weekly closing price.

Also notice on the chart we have started a series of higher lows and a series of higher highs with (c) being the next higher high. This is a bullish pattern.

This is just the way I deal with the markets so that I am not surprised by what plays out , as always DYOR.

This is just a short term target , but we have to start somewhere.

We shall see.

cheers Lies