Triple Bottom on the RSI? Inverse Head & Shoulder?
Since Tinley has broken down from a Descending Triangle / Bearish Flag pattern, which outlined in dark red, it appears as though Tinley may have created a Triple Bottom on the RSI.
It looks like an Inverted Head & Shoulders where I have the Blue arrow pointing sideways on the RSI, and at the same time could be a Triple Bottom if there's continued bullish momentum.
The bottom of the descending triangle pattern is where I expect to see a potential bounce 2, if Tinley can release any substantial news there's merit for bullish price movement back into the pattern or slicing through it like butter.
I expect to see rejection or some heavy resistance preventing Tinley from breaking above were the Green arrow ends upward.
The RSI is so oversold on a 1 year chart it's hard not to consider this a screaming buy with blood on the streets, especially considering pending news announcements that could be quite significant in terms of shaping the company's direction going forward.
On a 1 month chart TNY bounced off the 200 Day MA & is currently trading above it.
It looks like an Inverted Head & Shoulders where I have the Blue arrow pointing sideways on the RSI, and at the same time could be a Triple Bottom if there's continued bullish momentum.
The bottom of the descending triangle pattern is where I expect to see a potential bounce 2, if Tinley can release any substantial news there's merit for bullish price movement back into the pattern or slicing through it like butter.
I expect to see rejection or some heavy resistance preventing Tinley from breaking above were the Green arrow ends upward.
The RSI is so oversold on a 1 year chart it's hard not to consider this a screaming buy with blood on the streets, especially considering pending news announcements that could be quite significant in terms of shaping the company's direction going forward.
On a 1 month chart TNY bounced off the 200 Day MA & is currently trading above it.
Comment:
Same chart but on a 1 month.
Comment:
Ascending Triangle.
Comment:
Macro Ascending Triangle.
