The uptrend line formed by the June 2018 bottom still holds.
Important line. That goes and there is no more uptrend. Means this bounce from $2.60 in June 2018 to $4.00 in August 2019 was a dead cat bounce, a rally within a huge bear market since 2015 top. With $4.00 a gift to get out.
One then starts to ask, where is the damn bottom for this stock, when will the 20+ year downtrend end.
Technically, the line hasn't broken yet so lets give that a chance.
But fundamentally, its not looking good. The stock is clearly expensive. PE way too high given no growth.
Even at today's close under $3.00, the PE is 19.6. Ridiculous given Penn's guidance for 2021 where headwinds and challenges continue.
For this stock to get onto a reasonable PE of 15, the price would have to come down to $2.27.
So from fundamentals the line should get broken.
The other thing I noticed while screening the charts is the double bottom of 2010-2011. The candles at the bottoms both have a high and low of $2.57. That is, they haven't bridged. The low on the second bottom should have come down to $2.56 so it bridged, but hasn't. I don't know why the June 2018 bottom of $2.60 didn't quickly take care of this bridging while it was in the area of these prices. I feel that that is a hint TLS share price is going further down, continuing on its long term down trend and taking care of that $2.57-$2.56.
Choice of CEO post Thodey was critical as that is where TLS needed to be smart and find ways to replace NBN inflicted lost earnings. They replaced Thodey with a dud and lost critical time. Should have been an entrepreneur. Recent appointment of an entrepreneur- 5 years too late.
Let's first see if we get any bounce here at this support line. Currently around $2.94.
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Last
$3.84 |
Change
0.015(0.39%) |
Mkt cap ! $44.31B |
Open | High | Low | Value | Volume |
$3.83 | $3.85 | $3.81 | $22.85M | 5.957M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
58 | 426291 | $3.83 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.84 | 490222 | 47 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
48 | 398246 | 3.830 |
45 | 624724 | 3.820 |
42 | 717782 | 3.810 |
58 | 452637 | 3.800 |
12 | 177007 | 3.790 |
Price($) | Vol. | No. |
---|---|---|
3.840 | 465620 | 44 |
3.850 | 970938 | 100 |
3.860 | 1123267 | 67 |
3.870 | 399268 | 37 |
3.880 | 813935 | 49 |
Last trade - 11.56am 12/07/2024 (20 minute delay) ? |
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TLS (ASX) Chart |