TRD trade ideas
Triad- 10% jump on Friday with plenty more to come.Triad is inside and up on monthly and weekly timeframes, and in full timeframe continuity to the upside.
This company has excellent fundamentals including a large amount of cash equal to over 30% of its current valuation. Currently hugely undervalued due to some legal complications- a former board member taking the company to court- however with the high court ruling in the company's favour and a 10% jump in price on friday after a multi month period of consolidation, there is a good chance a more realistic price will now be found.
TRD- move up expectedTRD has been in an rising channel for 6 years. The high of Dec 16/Jan 17 touched the top of the channel and resulted in a pull back and consolidation of 18 months. Price has reacted to the channel and formed a rounded bottom/cup. Likely outcomes are to form a 'handle' for the cup, or for price to move straight up, targeting the upper channel boundary.
The fundamentals of this company are excellent, particularly the amount of cash they have in comparison to their market cap.
A break of the lower channel boundary would be very bearish.
