Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for 5 years and we love doing it. Each night we detail 7 to 8 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. For those who would like to see a full copy of our Wednesday Game Plan, email me at chartsmarterblog@gmail.com.
In our Tuesday 6/2 Game Plan we looked at TASR and below it exactly how we posted the idea. We really liked the way the round 30 handle had been holding up and how tight the trade was. The stock is now up 8% since the recommended trigger.
Stocks that can be bought as they take out bullish falling wedge patterns are TASR. TASR is a security play up 17% YTD and 133% over last one year period. It has risen smartly 3 of the last 4 times after reporting earnings higher by 7.5, 7.5 and 16.2% on 4/30, 10/30 and 7/30 and dropped 16.1% on 2/26. TASR is now basing near all times highs made way back in 2004 when the stock spilt 3 times, very unusual. The stock currently is digesting a 5 week winning streak between the weeks ending 4/3-5/1 which rose more than 30%. It has now formed a falling wedge which has 2 bullish hammers on 5/18 and 5/26 within in it and enter with a buy stop above at 32.