"The first half of 2016 was positive for this oil and gas explorer and producer as it rallied strongly over 30 cents. It then spent the rest of the year drifting sideways. I can now see this price action resembling a symmetrical triangle. About two weeks ago, SXY broke out on strong volume, which was impressive when the rest of the market was trading on lower volumes. We expect the stock to run from here, with an initial target near 40 cents. The stock was trading at 30.7 cents on January 11."
SXY Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
