This Tesaro (TSRO) stock chart update will take a look at some shorter and longer-term trends for its share price.
But first, take a read of this article that talks about some different revenue projections for Tesaro (TSRO). It links to an article from Investors Business Daily. These revenue projections from a few different analysts are then being used to justify a $200+ price target for Tesoro's share price.
One thing about the stock market that most people don't realize - it is nothing more than the "perception" of people's valuations. Sure, you can use hard metrics like P/E ratios and the like. But just like most things in life, something is only worth as much as someone else is willing to pay for it.
So typically I am thrilled when analysts start talking about price projections that have been on my radar from previous updates. It helps set expectations for other investors that may not use technical analysis. By using technical analysis though, we can set very specific price targets and also have key items to watch for to further confirm the price action.
Let's review some of TSRO's chart action and any indicators it may provide.
Tesaro (TSRO) Stock Chart Review
Upside Price Targets
Let's start out with a 3 year daily candlestick, Tesaro (TSRO) stock chart. It has 3 different Fibonacci Extension Tools overlaid on the chart, a black, green and a blue one. The black one is the longest-term for calculating price targets. The blue tool on this chart is calculating medium-term price targets. And last, the green tool is the shorter-term price calculation targets.
The MACD Histogram has been showing a lot of selling momentum, the most selling momentum since the uptrend began. However, I don't think all of this selling momentum will carry Tesoro's share price anywhere other than its supporting trendline. As long as selling volume is light as it approaches the supporting trendline, look for the trendline support to hold.
If the MACD Histogram starts rounding out and then begins to show its next decrease in selling momentum, I'm anticipating it will also happen as the share price approaches the trendline.
Let's get back to the Fibonacci Extension Tools and their placements. When you see a stock's price action have support, resistance or just volatility near a Fibonacci Tool's….
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