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.
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.