Oct. 21 at 5:43 PM
$TARA Part 2
To believe TARA can just keep running nonstop with an RSI above 80 is naive. A perfectly neutral (buying and selling are balanced) RSI is 50. Once a stock hits an RSI of 70, the buying pressure is overwhelming the selling. At 80+, it's getting extreme.
For TARA, or any stock with this kind of momentum, to sustain its strong trend upward, it must consolidate (digest) its large and rapid ascent from the low 3s to near 6. That move wasn't based on any "new" news. It was simply an overdue movement based on being fundamentally undervalued, IMO, and got some attention brought to that value proposition by a Tipranks article.
TARA is consolidating. As I write, it's RSI is now about 66. I continue to believe seeing the RSI come down to about 60 is very healthy and will permit it to run hard again.
BTW, TARA just saw a golden cross occur...its 50 day MA crossed over its 200 day MA....very bullish. IMO
