Flyin’ High Again
Stocks in fast moves do not pause for very long. I was reminded of that when
taking a look at the action in Taro Pharmaceuticals
(
TARO |
Quote |
Chart |
News |
PowerRating). I was
mainly monitoring it for intraday patterns, but at some point I managed to take
a look at the daily and was reminded of a post we put up on TARO in the Insights
From The War Room back on June 15:
Â
12:24:04
 Taro Pharmaceutical (TARO)
is pulling back from the June 13 high and appears to be starting to form a flag.
TARO has a TradingMarkets.com
3-month RS ranking of 97, and it is trading at 74.90, up 0.20.
Â
Â
The stock proceeded to move higher the following day, and has
never looked back, gaining more than 10 points in the next eight sessions. It is
bleeding back into the lower half of its range and may be getting a tad
extended, but has been impressive so far nonetheless.
Â
Â
Even though it may be overbought, don’t think it can’t go any
higher. Stocks that become overbought can become even more so, so keep it on the
radar.
With the TradersWire, you
can have the experience of the TradingMarkets team sniffing out gems like this
for you. With the new interactive version, you can also get help some some very
astute TM members as well!
Until tomorrow,
Duke
P.S. I have received some emails over the past couple of days inquiring how
to access the TradersWire Interactive. Simply
click on the TradersWire logo on the
right side of the homepage, and it will take you in. The first time you access
it you will be required to enter your TM username and password. If you are not a
subscriber you can sign up for a free trial via the website.