You are right BM. Ascending triangles have been the way this stock has climbed. I like ascending triangles because they're easy to read and fairly reliable, but more sophisticated chartists than me seem look down on them. I wouldn't be betting on it breaking 55c and staying there yet for a few weeks judging by past performance. I also agree a bit more volume is needed. Each previous break has been on quite a bit.
It's nice to see it back in the pattern though, it really pained me to have to sell some last week. I nearly hung in, the weekly was still ok, but I do that too much and it's cost me a lot in the past. If it pulls back to about 51c and bounces I might just buy them all back.
If I'm wrong and it breaks 55c next week that will make it much more interesting, and we may have traders to deal with as well. I don't want to see that, as they are likely to whip the thing around and make me nervous.
PGC Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
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