As you can see, the short term Elliott Waves build into the larger Elliott Waves. Using this method I predict that TRCH is still bullish and will extend into the range of $8.11-9.24.
Now I have considered the fact that this could just be a double top or h&s. However, my intuition tells me that with Institutions (15%) and Insiders (20%) owning a combined total of 35% of shares and 18% short interest which builds as the price increases on TRCH (as seen in February when TRCH first hit $4.00). In addition to this the short ratio or "days to cover" is ~2 for TRCH (according to Finviz.com @ finviz.com/quote.ashx?t=trch).
The RSI (87) and Relative Volume (33.5) both point to the fact that TRCH could easily be shorted back down to 3 or less. Either way the special dividend may make this stock worth holding in the long term.