|This is my first on this thread... I intend to post at least once per week usually on Fridays, unless of course there is something that I feel is going to happen.|
I welcome comments on my Technical Charts except from 3bar who banned me from his site for no reason that I can see. He can stick to his own site of repeat rumour from other sources.
If you follow my other threads in the Strategies section you will know I welcome comments on my charts... but don't bring rumour of great things or bad things to come for the stock.
What these rumours do is bias my readings of charts... Most chartists (including me) feel that good and bad sentiment is shown in the daily transactions... we don't need comments from people that have no idea really what is going on in a company but feel they have to say something.
Here is my first comparison of Theralase charts
The first thing to note is that Theralase is a Canadian company which has a dual listing into the USA (otherwise American investors would be unaware of this stock.
You can see that there is much more "trading action" for TLT.v versus TLTFF.. This is shown in the volume of shares traded in both countries... TLT on average has at least a multiple of 2 times shares traded than TLTFF.
This can be very important for American investors. Why TLT Should show a major change quicker than TLTFF.
You will note that the dates are different for this stock... TLT.V is Dec 22 and TLTFF is Dec 26. This is because this is still a holiday in Canada... the day after Christmas is called Boxing day here and is a holiday. Nowadays this usually means that all shops are open selling products at special discounts.
I find it interesting that there is a nice uptick on TLTFF today... it brings the share price above the 20day SMA
I will talk more about that later.
Other than the volumes the two listings are pretty good at tracking one another
the indicators look good. I circled a major formation of the MACD and BBWidth between Nov 13-30... this is an indication that the downturn is over for the present. It could be just a rest with more downturn to come or it could be a reversal...
The Slow Stochastics of TLT is a bit more bearish than TLTFF but that could change if that uptick in TLTFF today proves significant.
the dashed green line in the BBwidth is a level where significant changes in share price occurs. It is pretty consistent between the two listings.... Note the recent declines in both listings' BBwidth... it is very close to the dotted Green line and could be giving us a heads up to a major price movement in the next 5-10 business days (first week of January.
Now that movement could be bullish or bearish...for it to be bullish we want the Slo Stochastic to be out of the mud at the bottom like what happened in July this year.
If the BBwidth reversed right now... we would be looking at a further decline in share price.
today's rise in share price in TLTFF is a good sign... if it is confirmed by TLT.V tomorrow.
Here are 2 more charts
In this chart comparison the TLTFF chart is a tad more bullish than the TLT chart
The Parabolic Sar at the top is closer to the share price than in the TLT chart.
The Force 100 indicator is about the same the ADA DI+/- is definitely less bearish in the TLTFF chart see how the red green lines are reaching for each other.
Yes, TLTFF is more bullish than TLT.V
One last comparison
Again the TLTFF chart is marginally more bullish than TLT.V..... HOWEVER both charts shows trouble ahead. That HUGE red cloud in the circle will be a huge barrier to pass... the outer edge at the bottom and inner edge at the top form significant resistance.
In the past I have listened to rumours and have paid the price for it. You can see the share price falling inside that green could in early Oct.... I had a 30 day warning that things were going bad... BUT I LISTENED TO RUMOURS and did not sell. I could have avoided that 50% drop in share price.
Well it won't happen again... I have a long way to go before I regain those profits but they won't be lost again.
Again comments on my charts and what they predict are welcome.... leave rumour out of this discussion. I don't want it and will discourage it.