Forum Archive Index - June 2002

[Phaedrus <Phaedrus@techemail.com>]

Dannie,
       TLS is yet again right back at its longterm support level of 467. I have 
plotted its current intraday price of 465, but remember it is the Close that 
counts. Remember also that it is best to regard support levels as zones, rather 
than precise levels, so allow a little leeway in your interpretation.
 Heavily traded stocks such as TLS give nice clean charts, on which trends are 
very clearly seen. A long-term trend follower of this stock would have sold in 
May 1999, and been out for over three years now, while the price has been 
steadily falling. They would not buy back in until the current long-term 
downtrend has been broken. This has a well confirmed trendline, which has been 
"respected" many times.
 Right now, TLS is in a short, medium and long-term downtrend.

                    Phaedrus.

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