Hi Fasttrade,I am a keen follower of your Tls charts. Do you...

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murphboy2

9 Posts.

20/03/19

18:52

Post #: 37829119
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Originally posted by fasttrade: ↑

The gap at $3.13-$3.15 formed from ex div and the bridging at $3.19 all taken care of now.

The RSI is now up at 60 from 50 and the price is heading back to recent highs at $3.25.

This is now the 4th rise up to have a go at $3.25. Previously when price had risen to $3.25, RSI was 74, 69, 64 respectively. At the current level of 60, we are not getting a higher RSI but clearly lower values.

Meaning the negative divergence on RSI continues. Not good and usually indicates a fall ahead.

However, I found something interesting on a chart of NCM I had been observing recently (top chart) that is worth bringing to the attention of readers. It shows an uncanny resemblance to the current TLS chart. Its RSI was also showing clear negative divergence during November, December last year. One would think it was indicating an imminent fall. It spent 2 months consolidating and touching $21.50-$21.60. Then, instead of falling, it broke out to move onto $25.00's.

You can also see the formation prior to the consolidation area is similar between the two stocks.That is, both had a deep fall, then a bounce and initial consolidation phase. This is September for NCM and January for TLS.

The question is, will the RSI on TLS now break out to the upside together with the price breaking the one month long resistance at $3.25?

It certainly looks like it could and we will know when and if price gets to $3.25 and cracks it to say $3.27, $3.28 with a green candle, then quickly followed by a much larger green candle of 6-10c body surging up.

If $3.25 cannot be overcome, it will be confirmed by an equally big red candle moving in the opposite Southerly direction.

We should know inside 10 trading days which direction it is going to take.

Happy trading to all.

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Hi Fasttrade,

I am a keen follower of your Tls charts. Do you have any current thoughts as to which direction it will head from here?

cheers

Murphboy

TLS Price at posting: $3.26 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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Add TLS (ASX) to my watchlist

(20min delay)
Last $3.92		Change -0.030(0.76%)		Mkt cap ! $46.33B

Open	High	Low	Value	Volume
$3.95	$3.95	$3.90	$69.01M	17.63M

Buyers (Bids)

No.	Vol.	Price($)
3	271136	$3.91

Sellers (Offers)

Price($)	Vol.	No.
$3.92	282151	15

View Market Depth

No.	Vol.	Price($)
9	444562	3.310
33	2195109	3.300
32	2624483	3.290
25	449073	3.280
15	239418	3.270

Price($)	Vol.	No.
3.320	615667	9
3.330	2958318	59
3.340	1762379	73
3.350	2779599	159
3.360	300605	39

Last trade - 16.10pm 27/09/2024 (20 minute delay)

TLS (ASX) Chart