TLS chart, page-1136

Was waiting patiently for the gaps on the daily to be filled and got that today. Finally came down.

But wait. Still not a good price. There is that gap on the hourly down at $3.08-$3.09 waiting there. And TLS takes care of even hourly gaps.

Every August but for one since Penn came into office has been nasty as shown. The only exception was August during the bounce in 2018 and that was after a plunge to $2.60.

What is concerning now is the PE ratio. We have never had such low NPAT with such high PE ratio. Currently a PE of 21 and the lowest profit ever in history.

PE not justified with these sort of earnings and poor 2021 guidance.

If 2021 earnings per share EPS is again around 15c in 2021, then based on a more normal PE of 15, the share price should be sitting around PE Ratio=Price/EPS, Price=PE Ratio*EPS, gives 15*0.15=$2.25.

Unless earnings picks up, based on current earnings and PE Ratio analysis, share price is way too high. At a price of $3.00, the PE is still 20, at price $2.60, PE is still over 15 at 17.3.

TLS has had PE ratios between 10-11 before. If based on that, then price = 11*0.15=$1.65.

Not good.

This Penn man has had 5 years to do something about these numbers. He hasn't been able to. And he is an accountant.

Time for him to get out ASAP.

100% chance of $3.08 gap fill on hourly chart in coming weeks. And if the world markets take a correction from current lofty levels, then TLS $3.00 and under to revisit March lows.

Today, it was supported by the previous x4 touch of the $3.11 June lows. But I feel that was only a temporary support. Ex div days will bring it under that. Volume today 97 million , too heavy.

I am afraid nothing positive. Nothing to justify a price over $3.00. Penn seems to be nothing but bad luck to this company.

There could be a temporary bounce to today's high of $3.29 in the short term. But I would use that to get out.