TMS television & media services limited

could pullback?

  1. 7,397 Posts.

    It could be possible for TMS to pullback after it’s recent run up ,and the negativity around the market & media stocks,
    You could see some people wanting to lock in profits and a pull back to 6.5c or 6.2c will cover the gap up,

    may be on the cards today near close ,

    Some consolidation while waiting for some good news before the next move up.

    Media stocks, the biggest losers under the changes, were broadly weaker. News Corp sagged 3.5 percent to A$8.88, Publishing & Broadcasting fell 2.8 percent to A$7.88,
    while Seven Network fell 2.4 percent to A$4.82 and John Fairfax Holdings fell 3.4 percent to A$2.85.

    On the charts, the market fell back into oversold territory with a 14-day relative strength index reading near 23. An RSI reading below 30 usually indicates an oversold position, while a reading above 70 shows an overbought situation.
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