TRH 0.00% 83.0¢ transit holdings limited

chart

  1. 1,517 Posts.
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    Hello all hope the weekend is treating all fine.Following is my take on TRH. You will notice the price extension of $1.17 which is a 100% from the pattern breakout. It is expected that from pennant breakout's price will travel at least 100% in it's next move,(before it rests), we may still experience some down bars that is why support and resistance levels are so important.Again this next move goes into uncharted territory and those that rely on momentum indicators here will be left behind. I have placed the most likely lines in blue 1+2 after our main support in plum. The Gann and Fibb percentages are part of the extension and will also be used later as I chart. And as i stated before we where in an accumulation pattern, and IMO volume doesn't equal selling, there are many reasons why, but simply TRH never made a lower low, and has been in a sideways move. I disagree on a few things but that point is important as some may start to sell as volume increases. That chart states low volume= selling and also that high volume=selling.This is not what I was taught. Perhaps I have viewed the chart wrongly.This is only my opinion and is not meant to offend.I am very happy with how things are going now.
 
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