Lost interest in TLS past few weeks when the CEO Penn came out...

Lost interest in TLS past few weeks when the CEO Penn came out and started using the words challenging and headwinds again and essentially put out a profit warning before most of the other companies out there. As if TLS was a bank share and not a defensive telco. He was almost too eager to get out there and issue a warning.

Now back to this old dog stock after a few weeks being out of it completely. Bought back in yesterday and today.

As we know, it has been a nasty 2 months for all. I hope you are all coping. I took a big hit but now recovering.

Back to the charts. Main features I can see are, TLS just starting to stick its head through that upper trend line formed by the intra day highs of 1 and 2. The meaning of this I feel is that TLS has now had enough time doing nothing moving sideways and starting to see some life coming in. This follows after a recent first time close under $3.00 in a while which proceeded with a nice 9c green candle bounce with 33 mil volume behind it.

Also note the gap left above between $3.65-$3.69. That should be filled one day between now and December.  

I am now expecting some rise coming here for TLS. Not because we have a good CEO and good balance sheet and profits. But for a bounce off $3.00 with the tide raising all boats and TLS doing it for old times sake. The weekly RSI (last image) has room for a bounce. I would ride this coming rise up until the weekly RSI goes and touches the 50 line and then reassess the situation then. That should easily be $3.20 and maybe $3.40 (that significant level where it broke down from). If TLS is in a long term bear market, the RSI will fail and not exceed 50. Then back down she will go to under $3.00. But don't let that be of concern now. What we have now is a potential $3.00 to $3.20, $3.40 coming and that is all that matters. No more holding for me. 5c is 5c and 10c is 10c. Only vigilant trading.

I saw a picture of Penn a few weeks ago on one article sitting down with a smile saying, "we are all in this together". Yeah, with you still on 5 million per year income, we are all in these tough times together Penn.

I say it again, this man has to go, the sooner the better for TLS.

Wish you are all well and feeling better in the weeks to come.