After producing a stellar quarter back in May, $TSL has erased nearly all of its gains (40%). After bouncing between 11-13 in the summer months it seems that stock has found a very solid base in the low 11s. After almost dropping to $10 we have seen price action test the ascending downside trend line multiple times and it has held strong.
The MACD also has made a move towards the signal line and has barely crossed indicating momentum could be shifting back towards the upside. In addition, The Stoch. RSI has plenty of room to run to the upside as well.
With earnings approaching in mid August I think this could be a great time to get in light of the MACD crossing paired with price action pinching in the apex of the triangle.
If TSL can provide a healthy beat as it did last quarter I see it fit that we see $14.33 (The 1 point Fib Mark) by the end of August.
The MACD also has made a move towards the signal line and has barely crossed indicating momentum could be shifting back towards the upside. In addition, The Stoch. RSI has plenty of room to run to the upside as well.
With earnings approaching in mid August I think this could be a great time to get in light of the MACD crossing paired with price action pinching in the apex of the triangle.
If TSL can provide a healthy beat as it did last quarter I see it fit that we see $14.33 (The 1 point Fib Mark) by the end of August.