Thorn

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Selling pressure for TGA.AX continues - bearish signal

Selling pressure for TGA.AX continues - bearish signal

[BEARISH]: Thorn current price has highlighted recent selling pressure and the continuation of a bearish trading conditions. Currently, the CMF is -0.42. Thorn (ASX:TGA) received a confirmed CMF crossover days on the May 31 2019. The bearish signal has been active for 1 day. During the quarter, the lowest CMF value was -0.42 occurring on the May 31 2019.

Trading for Thorn  highlights the commitment of sellers to carry positions overnight.

Trading for Thorn highlights the commitment of sellers to carry positions overnight.

[BEARISH]: Thorn sellers in control. This is the first day of seller commitment for Thorn adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 4 trading days with the closing price in the lower part of the range giving a confirmation ratio of 2.9%. Over the last month there has been 4 trading days with the closing price in the lower range giving a confirmation ratio of 33.3%. Currently this quarter, closing price has spent 4 days in the lower price range compared to 2 days in the upper range giving a ratio of 2x.

Thorn : 0.618 Fibonacci Fan ($0.42)

Thorn : The current Fibonacci Fan levels are: (23.61%) $0.39: (38.2%) $0.4: (50%) $0.42: (61.8%) $0.42The current support levels are: (78.6%) $0.44: (100%) $0.47: (138.2%) $0.5: (161.8%) $0.51: (261.8%) $0.61: (423.61%) $0.76

Thorn : 0.618 Fibonacci Retraction (0.27)

Thorn : The current Fibonacci Retraction levels are: (23.61%) $0.25: (38.2%) $0.26: (50%) $0.27: (61.8%) $0.27The current support levels are: (78.6%) $0.28: (100%) $0.3: (138.2%) $0.32: (161.8%) $0.33: (261.8%) $0.39: (423.61%) $0.49

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