7.42p is the next resistance where 20ma is at moment but closing above that I can see quickly a move to 10p at least short term.
We closed last week above the t-line which is bullish, we might re-test it next week but closing above it will raise momentum for week after.
7.75p was the bottom and we seem to be on a start of a bull trend.
No sign of a bull move yet although RSI is on an ascending channel since the drop.
Support is being held here and sells dried up.
Looking for that break above the 20ma to bring more bullish sentiment to TLOU.
Biased view as I'm a long term holder of TLOU although I sliced 50% at 110% from my average entry at 5p. Free profit at moment.
Need another swing lower before we start moving back up again and testing highs
Longterm i'm bullish on TLOU but needs to consolidate for now. Could be a trade in it short term back to 11pish, but my strategy is to scale back in at support shown on the chart and HODL
Looks like there is a very clear 6p bottom on this chart repeatedly tested.
The RSI appears to be gaining some upward momentum suggesting to me it's going to have another go at breaking out of the consolidation zone in the blue box.
All the resistance is in this box - initially the 20DMA at 6.5p which I'd consider a bullish break if passed, right up to the 200DMA...
Bullish signal above the 8ema and the 200ma, next resistance line around 8.5p, passing that there is great potential to re test the 13.5p September highs. MACD crossing towards a bullish trend as well.
Selling seems to have exhausted now between the 6-7p range and with partner news on the horizon I can see a decent rise from around these levels. 10p is my main logical target, but ~14p and a test of recent highs could be on the cards too.
I think this is the bottom of the current phase of activity. It's had a sharp rise, 50% retrace (with a double bottom).
It looks like it will consolidate a little further here, but should then look to move towards a re-test of the recent high.
Current SP 9.38, target 13.5p.