I generally only trade short-term (a few days out to a month or two) and someone alerted me to TSO's potential move up last Wednesday. I had a look at the chart and my own analysis suggested TSO could have a target of $0.29
The pattern wasn't that strong in my opinion but probably worth a punt. I also had concerns that until 6 months ago, volumes had been very low, Low value, illiquid stocks without several years of history are high risk in my book so my trade was only a very small one. I bought on Thursday but gave away some potential profit because the order was conditional on prices moving up from Wednesday (the move up creates a higher probability that further rises are on the cards). Price fell back (profit-takers I expect) to close lower but rose 32% on Friday to close exactly on my target (again proving the value of good charting knowledge). I sold prior to the target when price hesitated and looked like it might have run its race and getting out with a 15% profit for a 24 hour trade on a stock I wasn't 100% happy with seemed to be a better move than waiting around to see what happened only to find price tanks.
Often prices fall back after reaching a target like this so I'd be cautious of TSO and probably wait for a pullback followed by prices moving up again.
Trading stocks like CSR, CCl and PLS at the moment seem to offer less downside risk that something like TSO - which could take your money.
There isn't much to say about TSO in a charting sense other than it is in an uptrend and making higher lows and highs on the weekly chart (chart below is daily). It may be forming a channel in which case I'd expect price to fall back to the lower boundary around $0.23 before moving up again. That move would also validate a steeper weekly uptrend line that could be used to guide future trades.
Good luck.
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TSO
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Last
2.7¢ |
Change
0.001(3.85%) |
Mkt cap ! $54.39M |
Open | High | Low | Value | Volume |
2.6¢ | 2.8¢ | 2.6¢ | $226.2K | 8.369M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1249057 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.8¢ | 472133 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 35530 | 0.028 |
2 | 1249057 | 0.027 |
3 | 753730 | 0.026 |
4 | 578540 | 0.025 |
4 | 1658043 | 0.024 |
Price($) | Vol. | No. |
---|---|---|
0.028 | 494133 | 2 |
0.029 | 2170833 | 3 |
0.030 | 309287 | 2 |
0.031 | 271072 | 2 |
0.034 | 270000 | 2 |
Last trade - 15.38pm 26/06/2025 (20 minute delay) ? |
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