TRS has been building a pennant pattern since July (the triangle bounded by the blue dashed lines). These are usually quite reliable patterns and in TRS' case it suggests a rise in price to $11.80 - $12.00 is possible. TRS is in a very large falling price channel (shaded green) and it may be that price will complete that channel by breaking up out of it when/if it reaches target. Next week's trade should determine if price breaks up out of the pennant (in which case I will buy) or bounce down off that upper pennant boundary to fall back to the lower boundary before (hopefully) rising back to test the upper boundary again. If price was to fall out of the bottom of the pennant this would be a very bad sign and lower prices could be expected. 

TRS appears to have recently completed a price cycle at the point marked by the 'C' in the cicrcle (signifying the end of Wave C).

TRS is a traders stock. If you look at the historic price moves you will see it has been very volatile with both big rises and falls. Anyone considering trading TRS should note that in the last 10 years price has fallen by over 90%!

TRS 20Nov20 

 

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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