TLW Short or Long?
Updated
It's struggling to cross that major resistance of the 52 MA. If it breaks the Daily trend and crosses support 23.5 then I'll be closing my Longs and sitting it out. I'm not hopeful TLW reducing it's debt and meeting its 11BN cash lquidity target. I'm really on the fence about this one.
Note
Now that it's crossed the 52MA. The SP has now consolidated to the previous ATL 33.4p from the year 99-00. I can't update the lines in this chart but i have 2 more trend lines for the 4H & D.
The 4H line is just above the SP as of 23/06 however the second trendline for the D i have shifted to a less sever angle that shows a price move around the 2nd week of July. If it follows the line then expect the SP to go up after this period of ranging/consolidation.
If it rejects the major resistance of 33.4 again and again then I will keep a close eye on PA for the 4H to see if there is any opportunity to open a SHORT.
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