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.
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TRS has been in a long-term downtrend for more than 10 years...
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Last
$3.47 |
Change
-0.025(0.72%) |
Mkt cap ! $130.2M |
Open | High | Low | Value | Volume |
$3.50 | $3.50 | $3.41 | $151.9K | 43.65K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 18 | $3.43 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.48 | 311 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 18 | 3.430 |
1 | 119 | 3.410 |
1 | 10 | 3.370 |
1 | 3103 | 3.330 |
2 | 660 | 3.320 |
Price($) | Vol. | No. |
---|---|---|
3.480 | 311 | 3 |
3.490 | 17544 | 3 |
3.500 | 2135 | 2 |
3.510 | 6060 | 1 |
3.560 | 500 | 1 |
Last trade - 12.32pm 19/08/2024 (20 minute delay) ? |
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TRS (ASX) Chart |