The important thing now is to see if the plunge stops around the lower trendline or whether it is a full return to $2.60 next week.
The most important piece of information in out of all of these charts was my concern about negative divergence of RSI on the weekly chart. That together with the gap down there at $2.98.
The lesson to be learnt here is always listen to negative divergence of the weekly RSI.
That is, a high happens ($4.01), then a second attempt at that high falls just a little short of it (3.80's, $3.90's) and the RSI is screaming negative divergence. Especially if it is the weekly chart and weekly RSI. Danger!
I saw this back in late December and may have mentioned it but I overlooked it.
This feature together with the gap at $2.98 was a sign that would have also led us to world markets falling. Because only that would cause it. Not TLS earnings. As that was known to the markets for ages. And the market was ok to let TLS trade at over $3.40. This is just panic falls now. Nothing to do with fundamentals of a company.
TLS Price at posting:
$3.12 Sentiment: Buy Disclosure: Held
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