Fibonacci Retracements for TARO

On the weekly chart, TARO tags the 50% retracement level before proceeding to more than double in price!

From early 2002 to late 2002, the stock makes an impressive rally gaining more than 100%. Like most stocks, this one does not continue up forever. TARO gives back about 50% of those gains before starting the next monster rally that again doubled the stock price.

And recently (as of late August 2003), the stock looks to be making another reversal. This time at the 38% price retracement level. Time will tell if this is a profitable trade or not.

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