It takes a horizontal level of resistence for an ascending triangle to form . Interestingly RUM (WAS owns 35%) is also forming an ascending triangle with 12 cents as its resistence (they are drilling a significant U anomally atm), so I am inclined to think that the RUM equity may be the reason for WAS pattern . However, take a look at ERJ chart (multibagger and huge growth in marcap) . ERJ is in the same business as WAS (industrial waste heat converted into energy). WAS has a partnership with a Chinese firm that is negotiating to install their technology . If a few deals get announced in China then WAS could conceivably imitate the spike that ERJ has made . WAS has a history of significant spikes by the looks . Good luck .
WAS Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
