By Jeff Pierce
12.10 Update – From the summer breakout this had a falling bullish wedge that ended up netting this another 20% gain from when I initiated coverage. It`s starting to look a little tired so I would be a profit taker near these levels as it is struggling near the $14 level.
7.29 Update: Continues to be a stellar chart pattern with a falling bullish wedge. This has had a mild pullback and looks ready to bust to the upside.
This is exactly the sort of stock pattern I look for for tradewithZEN, but it’s lacking 2 thing and that’s why I didn’t include it as a recommendation in my service:
- Large volume supporting the move
- A catalyst such as earnings or news announcement
Overall I think this stock will do well as the trend remains firmly up and the indicators are suggesting higher prices. I wouldn’t chase though as this would be a good buy on a pullback near $11.