Well looking at TVN from a technical perspective you would expect TVN to have and extremely strong support base from 5.4 c and below... Given it took the better part of October to break through the resistance area between 5.1 to 5.4c now that we have strongly broken out of this range to the upside yesterday I expect it will take an equal amount of effort (ie 3-4 weeks worth of Vol) to break down below it...
So I think we will bounce off the top off the support area of 5.4 back up. Just basic physics really... There is a big obstacle below us right now. The PAth of least resistance is ...UP!
But time will tell ...All is IMHO.. Caveat on the above is would be if the overall market collapses.
TVN Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
