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Microcap & Penny Stocks : TLT.v
TLT.V 0.165+3.1%11:36 AM EST
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To: 3bar who wrote (1495)1/7/2020 1:18:52 AM
From: Underexposed2 Recommendations

Recommended By
3bar
ogi

   of 1868
 
I am glad to place a chart here. I don't know about dummying down my discussion but I will try to discuss this in as plain English as possible

Here are my P&F Chart and Trigger chart



The purpose of the P&F chart is to try to predict Resistances and Supports ahead. The "Trigger chart" is a market timing chart used to predict a breakout or end of a run. An end-of-run does not necessarily mean future rises are not possible... it may be just a rest period (consolidation) where the stock price gathers strength for another run...or it can be a period of profit taking that drives the price down.... once the end of run is determined then further analysis is necessary to see whether a run will eventually continue or peter out.

In this P&F chart you will see a computer prediction of the share price potential in the square boxl... in this case $0.60/share. It is true that the P&F ascending triple top breakout is a very Bullish formation and is relatively new having occurred on Dec 27/19.

I think this is quite optimistic though when I look at the resistances ahead. There is a strong resistance band between $0.40 and $0.42 followed by another decent resistance at $0.49 and then the stock price must deal with clearing The top area from $0.54 - $0.59. There is a diagonal resistance as well which while probably quite weak still crosses the current column at $0.42 which strengthens that resistance point.

There is a very strong support at $0.34 - $0.36 which should halt a short fall.... and don't forget breaching that resistance at $0.40-$0.42 would be huge as that resistance turns into a strong support.

Soooooo.... it is not impossible to pass these resistances but don't think this is going to rocket through them. It may take a couple attempts to crash them before they fall.

So, the way is not a cake walk but it is much better than we have seen for the last 8 months.

The Trigger chart still looks good.

The upper circle shows the share price as a bit ragged but following the inside of the upper bollinger band.... a good sign. Other good signs are in the Simple moving averages (SMAs). The dotted green line is the 20daySMA and the red line is the 200daySMA...the 20daySMA is rapidly climbing to the 200daySMA...passing through it would be a good thing.

The Slow Stochastics is quite bullish staying above 80
The MACD looks fine too since it has an increased positive slope

It is the BBWidth that bothers me a bit... it is flat right now and represents the distance between the upper and lower bollinger bands.... during a breakout they get further apart... when the run is over they converge together. The BBwidth looks to be flattening out.... if it reverses and has a negative slope then probably we have hit that resistance at $0.40 and is falling back.

That is not the end of everything... it would just mean the first attempt to breach that resistance failed.

I am going to show one more chart.... the Ichimoku chart



Ichimoku charts are Japanese and means "at a glance".

This chart could not be more BULLISH.


The lower indicators are all bullish...very nice.

The main chart shows that up til December 9 the share price was struggling to get above that red cloud... it took almost a month to do so and that is typical of movement through a red cloud (these are bad news.... green clouds are bad too but not as bad.)

But that is in the past and now the stock is high above those clouds .... so there is little danger of falling back under the clouds in the near future

Conclusion

I am glad I looked at my Ichimoku chart and it shows why you cannot depend on single charts or parameters in making a TA assessment.

My conclusion is that though the way ahead has significant resistances to pass and the rise to higher prices may not be linear. I feel that we have crossed a point where it will not seriously fall back.

A little encouragement in news of recent placements of participants in the Phase II testing will be the fuel for higher prices

UE
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