Tlou Energy – a lone ranger

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Tlou Energy shares (LSE:TLOU) are a ranging market, which would preferably be called a lone ranger. The sideways movement will continue for some time, and it would eventually result in a serious breakout.

Price made a bullish effort in January 2018, dropped precipitously in February, and began to consolidate. The market has been ranging since then.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are flat, denoting a ranging market. The ranging movement is so tight to the extent that price has already formed a base.

A breakout is imminent, which would eventually happen. But this time around the breakout would most probably be in favor of bears.

 

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