buying TNE with stop at 23.25TNE has done well and now all time high. has consolidate at this levels while weathering the overall mkt volatility. It has build a base and looking to move up from here. with a 4% stop we can test this idea.
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TNE trade ideas
TNE - Pullback in Progress?TNE - A good looking and up trending chart with Higher Highs and Higher Lows is in the process of a pull back! The question is that where should the pull back end for a possible buy entry. My expectation is that it may continue further down, possibly towards the Buy Zone between $8.10 - $8.40, where there is trendline support and 78.6% Fib Retracement. The second scenario could be a break and close out of the bearish trendline coupled with high volume for a possible buy entry. I will monitor price action keeping both the possible scenarios in consideration for a potential buy entry.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
TNE.ASX Double Top or Not?There is a trendline that stretches back to the beginning of time on this chart and the stock marches forward. It appears though that a top may have been reached. However, I'm not yet convince. We have two conflicting patterns here. A double top that indicates a fairly savage drop. Or a pennant which makes up the second peak that indicates a resumption. Of trend. A double top here would represent a fantastic point which to get about a 35% gain on a short, or 10% or so on a rise and then a continuation of trend.
It is very significant when a tend is broken and TNE looks to have done it before in the making of this pattern. However, given that the stock attraction to the trend is so strong one could also build a case for the upside. There is also the chance that a consolidation zone forms first before a resumption of the trend.
I wont be trading this but I will be interested to see how it plays out.
TNE at inflection point?TNE has been in a well defined up trend since mid 2018, however a the confluence of a (fairly) symmetrical triangle formation with its apex on the 0.382 fib retracement line could signal a turning point.
Note that a break down and failre of the trend line would result in a golden cross on the daily time frame, would send RSI plunging below its 30 period moving average.
Watch for a failure to break through the upper line of the triangle, break through the lower triangle line, then a test of the $6.87 level (acted as support 3 times so far).
A price target for this fall could be the consolidation zone at $6-$6.45, around the 0.618 fib line
$TNE - TECHNOLOGY ONE - Been having a good runId like to see it break $7.54 to confirm continuation of trend but it has been a great performer.
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