Hopefully the peanut gallery will be too ashamed to show their faces now. If sanity has been restored, perhaps we can look at the technicals.
With the bounce now pretty clearly happening (imagine my surprise at it bouncing off the bottom of the gap, who saw that coming?), we should have an easy run back to 26.5c from here. With 21c having held, the technical short term target now is the post gap high, 32c or 33c depending on if you take the top or close of the candle). This is similar to the target price of 31c set in the Shaw and Partners buy recommendation we just saw. We might take a break at 26.5c which could put up some slight resistance, but we should see low 30s quite soon now.
I think we'll go further than that, but low 30s will be a nice feeling. I'm personally loaded up and enjoying the change in direction.
TNT Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
