(Weekly) After a impulsive decline we have a ABC corrective structure in place. Could say the trend on the weekly is still in transition. Shorter ma's starting to curl up. (Daily) The daily is where we might find some possible clues as to where price might be heading ? After a PPC pattern (pivot price climax) which happens after a prolonged decline, price has been in a trading range. The advance out of the trading range (08/01 - 15/02) has an impulsive look about it with a shallow pullback to a fib level (0.382). The pullback was fairly orderly with not a lot of selling (see 60 min). Dan Zanger calls it a dry up volume stage. Recovery from the pullback (which was orderly) has been quick (3 bars to get from the lower to the upper band). Price now sitting on top of the trading range which is a bullish sign. Shortman showing a very small position (0.4%) so no big short squeeze if we have good earnings result ? No idea of earnings tomorrow as it is a "binary event" just like picking red or black at the casino. But still bullish on the stock overall.
TYR Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
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