Yep zabbro, that bridging of $2.97 got taken care of this morning but too bad I was sleeping and didn't sell. I'm in a different time zone.
The next thing to look at is to draw an upper trend-line.
You can see we are near but not touching. That's ok. Today's intraday pullback from $2.98 has left a long upper wick on the candle.
I've been looking at this chart during the weekend and I see something very important and good that is taking shape here.
The recent bear flag shape that took the price down to $2.71 is significant. The long reversal candle on the 24 of December was significant. And now, the shape of the rise back up from that day is equally significant.
If I am right, the recent fall to $2.71 is the double bottom with the June $2.60. If it is, then we have actually seen TLS bottom and we are now witnessing the very early stages of a multi year rise of TLS back up.
But it is not going to be a quick and aggressive rise. Its going to take 1-2 years but sometimes deep pullbacks.
The shape and action taking place points to a slow and gradual recovery. Right now as we speak, TLS is consolidating in the $2.93-$2.94 area before the upper trend-line is breached to the upside. We should now pull back and hang around $2.88-$2.93 for a few days until sideways movement causes the price to go and touch and start to rub around that upper trend-line.
The sideways motion could last many days now and sometimes can get as low as $2.88 and even $2.85 as a maximum low. Once the sideways move is complete, we should get a target of $3.10-$3.11 that will complete the shape I am seeing, before a fall back down to $3.00. The fall back down to $3.00 will serve as a back-test of $3.00 now turning support and probably be caused by 11c ex dividend. We could even get a jolt down to $2.70's again if world markets take a dump. But once ex dividend is gone and accounting for some roughness from world markets, TLS will continue its recovery onto $3.20, $3.50's and possible $3.70's by December.
Today was just a spike up that took care of that bridging feature I talked about and the intraday high would have been good to sell into if you were a trader as you could get back in at $2.93 and even $2.85.
TLS will trade at $4.00 and $4.20 again. But in 2 years.
The above assumes the recent $2.71 is a double bottom with $2.60 in the making. We also need to see the upper trend-line being overcome.
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Last
$3.96 |
Change
0.000(0.00%) |
Mkt cap ! $45.75B |
Open | High | Low | Value | Volume |
$3.97 | $3.98 | $3.92 | $116.3M | 29.42M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | $3.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.97 | 830574 | 28 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 3.950 |
8 | 424137 | 3.940 |
9 | 361258 | 3.930 |
22 | 315562 | 3.920 |
20 | 245021 | 3.910 |
Price($) | Vol. | No. |
---|---|---|
3.970 | 805574 | 27 |
3.980 | 1474468 | 68 |
3.990 | 723617 | 80 |
4.000 | 1040202 | 192 |
4.010 | 326557 | 33 |
Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
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