TAP has been rising steadily in a trend channel since the beginning of August but has now reached a critical juncture sitting right on the bottom trendline and the 41 EMA. A bounce off this price level would be bullish and a target price of $0.84 would then come into play.
Strong overhead resistance at $0.80 exists.
If TAP falls out of the trend channel strong support should exist around the $0.70 area.
The recent pullback following the failed attempt to sustain a move past the $0.80 resistance level have indicators showing mixed signals:
RSI: 46.16. Falling below +70. Negative. Slow Stochastic: 48.15. Below it’s signal line and falling. Negative. MACD: Above zero. Positive
TAP Price at posting:
74.0¢ Sentiment: Hold Disclosure: Not Held
