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
$3.32 |
Change
-0.170(4.87%) |
Mkt cap ! $125.0M |
Open | High | Low | Value | Volume |
$3.47 | $3.47 | $3.32 | $242.7K | 71.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 200 | $3.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.47 | 787 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 200 | 3.310 |
1 | 2000 | 3.290 |
1 | 90 | 3.280 |
1 | 155 | 3.260 |
1 | 1000 | 3.250 |
Price($) | Vol. | No. |
---|---|---|
3.470 | 787 | 1 |
3.480 | 8000 | 1 |
3.490 | 12062 | 2 |
3.550 | 3570 | 1 |
3.580 | 1222 | 1 |
Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
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Last
$3.31 |
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Change
-0.170 ( 4.43 %) |
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Open | High | Low | Volume | ||
$3.37 | $3.43 | $3.31 | 5455 | ||
Last updated 15.59pm 03/06/2024 ? |
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TRS (ASX) Chart |