|This my weekly update of charts for Friday, Dec 29.|
Let's have a look at the P&F charts first
There are a couple of differences between the 2 charts
In the Canadian Listing TLT.V the share price broke through a pretty decent Support at $0.25 and formed a triple bottom breakout...whereas the TLTFF just formed a double bottom breakout and fell to a support... which is not as bearish as the Canadian Listing.
However both formations have lost their punch now. Why? Because look at when the formation was made in the circles at the top of each chart.... Dec 12-13.... this is almost 3 weeks ago... if this was really a bear signal you would have seen more decline in share price by now... it is still a bearish sign... but very very weak. IMHO
I am encouraged by the column moving average in TLT.V... there is a hook in the blue line and the red line is reaching for it... still bearish but it shows some future promise. The TLTFF chart has the blue/red lines are far apart and not converging... the TLSFF is much more bearish on that stand point
Here is the trigger chart
The TLT.V chart with the much higher trading volumes is much more defined that the TLTFF chart. This is probably due to the far greater trading that takes place on the Canadian side
The TLTFF chart is a bit erratic going above/below the 20daySMA which in itself is not bad but I think the fact that the TLT.V being just beneath the 20day SMA consistently is easier to read... Why? well if the share price of the TLT.V chart creeps above the 20daySMA this would be more significant compared to the TLTFF chart which could easily jump back. Subtle but could be telling eventually.
The Slow Sto, MACD and BBWidth are pretty consistent... ignore the little bumps in the slow sto of the TLTFF. We are LOOKING for a rise above 20 before we can get hopes up for a price advance.
The dotted green line is pretty consistent for both charts... this is the position where I would expect the BBwidth to fall to before a major event will occur.... I am guessing 5-10 working days from now.
Here is the sentiment charts
We are entering a BBtunnel...These two charts are tracking each other rather well... eliminating the high/lows of candlesticks and showing just the close makes the patterns very similar. I like the position of the Par Sar in both charts... Assuming no violent downturn the Par Sar will hit the top of the share prices in the throat of the bollies... which would be bullish.
Nothing interesting in the Force 100, RSI(30) and ADX DI+/-... all are the same and mildly bearish for now.
Lastly here are the Ichmoku charts
there is virtually no difference between these charts. It shows that a breakout to the positive will not be a great "fly to the moon" breakout... it will be a modest one of a few cents before the share price runs smack into the lower edge of a red cloud... the lower edge will be a resistance slowing the gains down.
In the circle you see the thin red/blue lines... you want the red below the blue lines which won't happen soon. This is pretty subtle but the share price is rising above the blue line... encouraging.
Same old/same old............ no signs of a marvelous reversal at this point.
Still wait and see but as I said earlier that could be 5-10 business days from now.