Bullish Pennant for TNY?On a long-term chart for TNY, it appears as though the price has formed a bullish pennant pattern in blue.
The RSI is displaying a bullish flag.
A bearish cross has occurred on the DMI where I've placed the red downward pointing finger.
The price has noticeably broken the red downward sloping resistance of a Macro descending channel and upon back-testing has acted as support as of this moment, inherently bullish.
If the blue upward sloping support of the bullish pennant is lost ideally I'd like to see bullish buy pressure at the old red resistance of the downward sloping channel, it should act as support again if there's going to be a convincing shift from bearish to bullish sentiment.
Drink420
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.
TNY Updated Chart.It appears as though TNY has broken out of a descending triangle & through some short term resistance that's been holding the sp down since September 25th.
It would be nice to see Tny form a support at the 50c level & not drop below it. Also, TNY is trading above the MA (9,close) which is bullish. We just need to get the fuck back up to that 200 Day MA. That will really change the trend. We don't want to simply create a lower high, and it would be ideal not to break below 46c.
Time will tell per usual
