Iam liking the technical setup for TLS on the daily, weekly and monthly chart. I feel we are on the cusp of a rally in the recently 'unloved' yield stocks or TLS & CBA
Dipping the toe in via warrants and CFD's on market this morning on the long side, looking for a move to $3.92 in the short term and potentially back to the $4.20 in the short to medium term.
On the daily setup below, MACD crossing over to the positive side at present, RSI has bottomed in 'over sold' territory post the dividend being paid and now moving higher and the stochastics bottoming out nicely and moving on up. Once we move through the $3.72 mark, $3.75 will be the next stop before a move back to $3.92.
Daily
The weekly setup also being complimentary to a move higher, with the price action moving outside of the bollinger + keltner channel, to now move back into a more 'normalised' trading range. RSI is 'over sold' sitting sub 30pts and the stochastics are also bounding along in 'over sold' territory. I believe the chances of moving up from this price level is high, with the price targets lining up to the daily numbers.
Weekly
TLS - moving on up
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 (20min delay)
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Last
$3.64 |
Change
-0.030(0.82%) |
Mkt cap ! $42.05B | |||
| Open | High | Low | Value | Volume |
| $3.65 | $3.67 | $3.64 | $56.57M | 15.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | $3.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.65 | 55798 | 2 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$3.65 |
Change
-0.030 ( 0.65 %) |
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| Open | High | Low | Volume | ||
| $3.66 | $3.67 | $3.64 | 5377805 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| TLS (ASX) Chart |