TRS has been in a long-term downtrend for more than 10 years during which it has seen 3 (4 if you count the recent spring up) tradeable sustained spikes which appear to be complete price cycles – although it is usual for price to increase from cycle to cycle, whereas TRS has fallen. Was March a bottom? With the stock having lost an eyewatering 90% since its all time high in 2009, you would have to hope so but couldn’t be sure. Since July price has been building a pennant pattern, a continuation pattern that suggests price could go to $12 if/when it breaks up out of the pattern. Two different approaches give the same target for TRS, making it a very attractive opportunity. $12 would be just above the shaded long-term channel so there is a chance it could fall a tad short (probably $11.50) but it is still a potential price rise of more than 60%.
I've listed a couple of other likely upcoming trades on my web site for anyone who wants to check out my Blog this week.
TRS Chart - could price rise 60%?
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Last
$3.44 |
Change
-0.050(1.43%) |
Mkt cap ! $128.3M |
Open | High | Low | Value | Volume |
$3.50 | $3.50 | $3.33 | $166.4K | 47.87K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 160 | $3.36 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.49 | 17267 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 160 | 3.360 |
1 | 5000 | 3.350 |
1 | 4702 | 3.330 |
2 | 1506 | 3.300 |
1 | 2800 | 3.280 |
Price($) | Vol. | No. |
---|---|---|
3.490 | 17267 | 3 |
3.500 | 2135 | 2 |
3.510 | 6060 | 1 |
3.570 | 13780 | 1 |
3.590 | 835 | 1 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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TRS (ASX) Chart |