TLS chart, page-1156

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.