TLG - reversal at trendline support

Hi all

This one's been in an uptrend since bottoming out at 5c in 2013/14. However it has been consolidating in a symmetric triangle pattern since early 2015, and as the triangle gets towards its apex, it's becoming more and more likely to either break out, or end up forming some other pattern like a rectangle. Not important what shape it is, it's still a consolidation, after an up move, and hence it is more likely to continue and break upwards than reverse.

Context: Currently trading at the bottom trendline support, and not surprising it has struggled to break through here. However, it is basing out quite nicely here, and has showed glimpses of buying strength followed by long periods of selling weakness (see mid Dec, and mid Feb). Best time to buy? When sellers are weak!
It has also formed a Reversal chart pattern (see below). A reversal pattern taking place at an obvious support level is a very strong set up at an idea location, and I would take this trade 100 out of 100 times.

Charts: Has also formed an inverted Head & Shoulders pattern, with a clear build up of volume in the 2nd shoulder which shows increased interest in this stock.

Depth is looking pretty even (1 for 1), with light offers up to 31, where I wouldn't be surprised to see at least 1 of the 6 sellers pull their orders to get a better price, should price reach this level with strength.

No short open interest (http://www.asx.com.au/data/shortsell.txt), and no shorting allowed by any of my brokers.





Do share your fundamentals or thoughts on TLG.

Cheers
GLTA