TIV TA

[leftybobcat]

Lower Trend Line.

Hey Jonesie,

TIV's current price is right on my lower long term trend line of ~$9.75 today (give or take a few pennies). I have a small order in to replenish some traders right in here that hasn't executed yet although it has been a mere penny away.

It will be interesting to see if it holds here and goes back to the ~$10.00 support level again while waiting on news. Making this sort of an 'undershoot of support' event. This being the case and if positive news happens in the near future it could be a bargain.

On the other hand...if it gets pushed down below this area...it could free fall a bit taking out stops and throw in some panic selling. Not sure how far it would fall. I am thinking into the low $8's? But that is just a guess and not based on TA. What do you think? I would also think it would rebound reasonably well from such a fall if it is without news as it would be more of a manipulation event. Shorts pushing the price down to get the drop rolling and then covering at the bottom causing it to rebound back again. Although this time I think with the short interest so high and with potential revenue news for Select Resources and potentially one or more of the other O&G projects right around the corner...smart shorts will be thinking nice exit points may be few and far between going forward. They might sieze such an opportunity thus making it rebound nicely. This will be very telling in and of itself. Should this happen...trying to pick the bottom to buy more shares will be tricky but could be rewarding even if only close to the bottom. JMHO.