strong signs of a reversal + chart

For starters this is a spec stock so therefore chart patterns and indicators don't always play out as they would for an extremely liquid Forex currency pair. Also this stocks chart will ultimately be determined by success in Tunisia and whether or not large amounts of oil (resource potential of 270mmbbls) are found in any one of the 3 target zones that are to be tested. After various weather delays (which is a natural occurance in offshore drills) ADX is very close to it's first target which will probably be hit over the weekend. I decided to post this chart as the resident down rampers on ADX are getting alot of things wrong when they mention candle stick patterns and divergences etc. The air needs to be cleared so to say. I am not giving forecasts for the stock as anyone can attempt to predict a few prices ADX will reach (especially bearish ones in a down trend), I am merely reading the chart like a chartist would. None of the information I present is false or missleading, it is simply the anaylsis of a chart and various probabilities. I like this pattern and have taken up a position today based on the technical factors and also because I like the huge potential of this oil drill and I already have exposure to it via one of it's partners PAA through the options PAAO which is the most highly leveraged play out of all the partners.

Synopsis of the falling wedge reversal pattern for those interested:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge

Some key points in the ADX, PAA, EST and CAV drill:

- 30% interest in a $20 million well which will test a structure with three potential pay zones rated as having a 50 per cent probability to contain a combined "resource potential of 270mmbbls"!

I particularly like this comment made in a recent announcement:

"In addition to confirming an optimal drilling location the new 3D seismic data set has
confirmed the structural validity of the Lambouka prospect as well as further resource upside
potential. Excellent seismic reflectivity is present at various hydrocarbon target levels not
seen previously on the 2D data which is interpreted by AuDAX as evidence of the presence
of good reservoir".

The drilling of Lambouka is the culmination of years of planning by AuDax managing director Wolfgang Zimmer, a seasoned oil man best known in this part of the world for once heading up OMV's push in to the Australia oil and gas scene. See below for a very recent drilling update from OMV in Tunisia dated 21 June 2010

http://www.youroilandgasnews.com/omv+drills+successful+exploration+well+in+southern+tunisia_50824.html

Comments to take note of are quoted below:

"OMV, the leading energy Group in the European growth belt, announces a new gas-condensate discovery following the successful drilling of the Ritma-1 exploration well in the Nawara Production Concession in southern Tunisia. This is the seventh successive well to encounter hydrocarbons in this area in the last four years, and underpins the significant potential of this block and of OMVs surrounding exploration permit Jenein Sud".