TLS couldn't overcome that top parallel line which I thought was developing into a bear flag recently.
I am still not sure if it is a bear flag or not.
Yesterday it closed back inside the parallel area.
The one good thing about yesterday's price action is that it left a long legged candle. Meaning that bears were initially in control and winning, but by days end, here was buying interest and bulls won out.
This candle is key today because if we get a gap up open today, it will make yesterday's candle look like and abandoned baby. Or a perfect "hammer" pattern which will be a buy signal.
TLS needs to correct yesterday's down move and rapidly bounce here. If this happens, we avert any bear flag situation and hence any $2.50 situation.
In other words, we may have bottomed and it all depends on the open today in 5 minutes.
Good luck.
TLS chart, page-5
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 (20min delay)
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Last
$3.82 |
Change
0.090(2.41%) |
Mkt cap ! $44.13B | |||
| Open | High | Low | Value | Volume |
| $3.79 | $3.83 | $3.76 | $144.1M | 37.83M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 41410 | $3.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.82 | 559861 | 18 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| TLS (ASX) Chart |