Posted: March 10, 2014 Filed under: Double Bottom, H&S Bottom, Reversal | Tags: $BPZ, BPZ Resources, Ecuador, GAS, oil, Peru
BPZ Resources (BPZ) completed a one year Double bottom formation closing above $2.60. Interestingly, the second bottom has morphed into a 5 months H&S Bottom which has broke out earlier. Volume also has increased 3X giving more confidence in this long trade and a possible reversal and the end of BPZ 5 year decline. Initial target is $3.60. Stop loss @ $2.40
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Posted: February 20, 2014 Filed under: Basing pattern, Double Bottom | Tags: $GSS, GLD, gold, Golden Start Resources
This is a follow up post to Shining Metal Play Golden Star Resources (GSS) has reached its implied small double bottom target and is now seeing some profit taking. An 8 months rounding or saucer-like pattern is now in play. Neck line is at 0.85 and implied target is $1.25.
Posted: February 19, 2014 Filed under: Double Bottom, Reversal | Tags: $AMSC, American Superconductor Corporation, megawatt-scale solutions
Super is probably one word that does not describe American Superconductor Corp (AMSC) stock performance for the last 3 years. AMSC has been in a relentless downtrend taking the stock from $44 to less than $2.0.
Taking a look at the stock today, we see a possible attempt for a turnaround on increased volume through a 3 months Double Bottom formation that failed yesterday to close above the neckline at 1.83. A decisive close above the latter level, indicates an initial target of $2.23 and maybe the end of the downtrend?
Posted: February 14, 2014 Filed under: Double Bottom, Gold, Silver | Tags: $MGN, $PAAS, $SSRI, silver
It seems that the bearish appetite has been reversed (for now) for Silver & Gold. Here are 3 silver stocks that have Double bottom patterns that you may want to consider.
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Posted: December 31, 2013 Filed under: Double Bottom, Reversal | Tags: $NOR, Aluminum, Noranda
Noranda Aluminum Holding (NOR) completed a 4 months Double Bottom, but the neckline area at 3.12 is interesting. This zone has been touched twice before as support so it now should act as resistance. To make it more significant the 200 moving average is almost close by at 3.22. In this particular case and to be conservative I would let the 200MA serve as the barrier and the point of declaration that its breaking out. NOR has been on a downtrend since May 2011, will year 2014 witness the turnaround? Initial target is $4.2
Posted: December 17, 2013 Filed under: Double Bottom | Tags: $MWW, Monster Worldwide, Monster.com
Monster Worldwide (MWW) is almost completing a 1 year double bottom formation. A close above the neck line of $6.0 implies a target of $8.0, a 33% increase. Will this be the stock to hold on for 2014?