TET, Trilogy update

The usual then – Nov.26, 2014 – and now charts;

tet nov 26 2014TET dec 12 20124TET doji

So we did get under $8 as predicted ( a 40% saving from $14) and now we are there. C is equal to A as a vector and we dropped to the lowest point on the way up. The RSI has been oversold for about two and a half months and the MACD idem ditto. There appear to be 5 waves at every degree and if you are into Japanese candlestick stuff we have a wonderful set of Long Shadows a sure sign of a reversal. As mentioned in the previous blog this is now a buy. That does not mean that it cannot possible go a little lower, but it does mean that if you hold on to it you should do OK.

TET, Trilogy Energy

tet nov 26 2014

This oil/gas producer just announced its dividend, but the stock just kept sliding. It is oversold here but nevertheless it looks like the stock could go to about $8 from where it started (in its present form). In EW terms it appears to be doing a large a-b-c correction which has a little left to go to reach equality between the c and a legs. The triangle looks just fine even though the e leg is aborted and much smaller than usual. A buy at $8 or lower but not a short here at these levels. RSI and MACD are both oversold.