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DrSeuss

14,059 Posts.

5

02/04/15

16:40

Post #: 15029761
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Originally posted by Dr.Seuss ↑

Hi Meerkat. I wasn't saying it was distribution, although it could be - 3 increased volume bars - who's selling? And remember - distribution is done through stealth. It's not advertised.

Anyway, I was just merely highlighting that it's not accumulation as was claimed by another poster. Accumulation takes place in a range. Price has broken out of a range.
I just don't think that enough of a cause has been built to merit this rise.

Look to last year's accumulation. Then look at the rise. Big peaks in volume. Pull backs on low volume. Text book.

Now look at this year. Not much accumulation. Where is the relative volume compared to last year? IMO this is running on fumes and is not sustainable.

View attachment 50933

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Well it took a while but it would appear that the stock is now in it's mark-down phase. There is support between 15 & 16.5c. This was tested today. I would expect price to settle there.

TNG Price at posting: 17.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 5.5¢		Change 0.002(3.77%)		Mkt cap ! $94.02M

Open	High	Low	Value	Volume
5.5¢	5.5¢	5.5¢	$11.04K	200.7K

Buyers (Bids)

No.	Vol.	Price($)
4	7051688	5.3¢

Sellers (Offers)

Price($)	Vol.	No.
5.5¢	16012	1

View Market Depth

No.	Vol.	Price($)
3	4074755	0.053
1	6640	0.051
4	100000	0.050
1	20346	0.049
4	741666	0.048

Price($)	Vol.	No.
0.056	645608	3
0.057	120000	3
0.059	423800	1
0.060	15000	1
0.069	362400	1

Last trade - 10.16am 18/11/2024 (20 minute delay)

TVN (ASX) Chart

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