TASR: Reaction to Earnings Can Resolve a Range

After making a new 52-week low in January 2016 TASR entered its intermediate-term uptrend and reached the price objective in the 27-28 area derived from the 4-month bottom consolidation (light blue box). Since then TASR is trading in a range, consolidating before its next move. The upside target from the current consolidation resides in the 37 area and coincides with the price objective at 36 from the bigger bottom reversal pattern (blue box). The downside target lies within the 18.5-19.5 area. Volume by price shows that most trading activity of the consolidation takes place within the 23-28 range (dashed pink lines). A decisive move out of this range can be a signal that the consolidation is over. All calculations are made based on the volatility adjusted long-term PnF chart.

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