TLG Chart, page-3133

Hi Folks

Just a quick update on my previous post. Having reached a recent low of 83 we are well into that 1st target area.
The bottom of that target area is the 38.2% FIB at 80.5. The 38.2% FIB holds no magical properties. If the SP was to turn upwards from 83 then the 1st target area was useful as a guide, that's all it is. However?

That 90 minute dump of 1.5m shares down to 88.5 is still an area of concern as it bring the 2nd target area into play.

I have been watching the charts and trading action for a while. Since the CR the BOTS seem to be working overtime. Their purpose is to shake out the weak holders while lowering the SP, and they are succeeding. It costs money to run BOTS, so someone is prepared to pay the cost to reach their objective. Have a look at the 1 hourly chart below (the vertical pink lines are the daily 4pm close).

The green line is the 10HMA (10 hourly moving average), notice that since the 22 Nov , so over a 14 day period, not one hourly candle has traded entirely above the 10HMA). A few have cut into it a little. That is very unusual and very bearish.

So in summary, for 14 days this ultra-weak 10HMA trendline has been a successful barrier to any bargain hunter seeking to take advantage of a drop from 1.115 to so far 83. This in a world where graphite as a critical material is being discussed everywhere and not even a taxi driver is interested in these bargain prices.

Which begs the question? What is it that I don't know?

I don't fight the charts. But DYOR

cheers Lies