I reckon that when TSE touched SP of $2.75, that trigered a bit...

I reckon that when TSE touched SP of $2.75, that trigered a bit of profit taking, $2.75 being a nice round number.

Not as nice as 3 which is also Fibonaci number, but $2.75 is about double (100%)of the low on 1st December 2008 when TSE opened on $1.26 reached $1.45 HIGH, $1.24 LOW and closed at $1.245 on huge volume 14,636,100 shares. All this happened after TSE came out of trading halt for capital raising.

My guess is that some of these investors decided that 100% is good enough and decided to cash in their chips.

Important thing that the was enough suport to allow them to exit in orderly fashion, even though the SP got depresed somewhat. The SP broke briefly through the trend line on my chart but bounce back and stayed and finnished in upward trend chanel.

So this could indicate the recent short down trend which started on 11th May has been broken when the SP touched the lower boundary of of the medium upward trend chanel. The green candle achieved today makes me think that this upward trend still has some legs.
We need TSE to trade above $2.50 early next week and above $2.60 at the end to remain in up trend which started on 23rd March after a bit of the buildup from roughly 5th March.

On the other hand if TSE SP falls bellow $2.50 that would breach the current uptrend with stock going sidewise or worse case scenario where the current short term down trend which started on 11th May takes over and becames the new medium down trend.

As I said, todays positive candle gives us some hope the upward trend is not broken yet.

Sorry, I have not included the chart with this post, not quite sure how to do it.
I used interactive chart from BigCharts.com that I accessed through my brokers Etrade.I guess there is public acces to BigCharts.com.

I would be interested if anyone has different interpretation of TSE chart.

Cheers Brian.