View Single Post
  #2  
Old 04-18-2008, 01:11 AM
Naamplao Naamplao is offline
Junior Trader
 
Join Date: Jan 2008
Location: Alberta, Canada
Posts: 136
Default

I am not so sure that this stock is ready for a turn around yet.

From your charts I note that the Accum/Dist is severely negative which suggests a lot of selling here. When I look at the TRIX(15,9) I see the positive slope starting to top out...this is not definitive but suggests to me the upward share price is faltering. From the SharpChart there is a strong resistance point at $0.35 - $0.34 which corresponds to the 50dayMA where it will be tomorrow

This is a P&F chart for TLVA that makes sense to me



If you draw a 45 degree diagonal from the $0.15 low point...you will see that we hit the Support level at $0.23. The next resistance line on this chart is at $0.43 and this is as strong as the 50dayMA resistance mentioned above.

If it breaks the support level it will fall to $0.15 (a secondary support). If it breaks the 50dayMA then we will test the second resistance at $0.43.

My take on this is that the stock may rise to to the 50dayMA and fall back to test the support level which would be about $0.27 after falling back.
__________________
I am not a broker....just a chartist that retired 4 years ago and invests in the stockmarket. Do your own DD and accept or reject my observations as you wish.
Reply With Quote