When we covered THO on Dec. 22 we wrote that, "Traders could go long THO at current levels and/or on a rally above $101.37. Risk to $85 for now. The $115 area is our initial price objective." Prices have gone way beyond our $115 price target so we need to check the charts again.
In the daily bar chart of THO, below, we can see how prices have been climbing from late December. Our $115 price objective has been left in the dust so to speak. Prices are trading above the rising 50-day moving average line as well as above the rising 200-day line.
The trading volume has been active since November and the On-Balance-Volume (OBV) line has climbed to a new high to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator turned bullish in early December and is still bullish.