TASR has completed a Head and Shoulders pattern and exceeded the target range, which would have been around $26.
I expect that TASR will bounce up to a 50% ($29) or 61.8% ($30) retracement from the recent drop. At that point the stock will either head back down to support on the green trend line, or resistance from the red down-trend.
I recommend going long and placing a tight stop around $24.80, in the case that this stock wants to first head down to the green support trend line at $23.50. If the stop gets triggered, I would buy again after it bounce up from $23.50, with a tight stop below the second purchase.
Good luck!
Comments
tristan.rhodes
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My constructive criticism is that I shouldn't catch falling knives! #ouch On the positive side, this is why stop-loss orders are very helpful.