$TPX Bearish weekly technicals with support at $53.49 and $49.11

71
Key points;
1) False break. Price shot through resistance (old highs) then reversed back underneath it.
2) ADX is too weak to suggest a strong weekly trend
3) Lower lows and lower close compared to last week
4) Weekly uptrend level has already been broken, and thus has transitioned into a sideways / range bound pattern. Thus selling high levels / buying low levels is appropriate.
5) MACD-Signal difference has contracted week on week
6) RSI is not oversold so timing is reasonable
As always DYOR

Penafian

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