Hi ixco - I think this is a Wycoff pattern in which case the target could be $0.315 but it could just be a plain old break above resistance at $0.19 in which case I'd expect it to get to $0.265. The downside is that if price bounces off the top boundary of the rectangle on my chart it could do another lap of the block and head back to $0.115 before breaking higher. Wycoff uses Point and Figure charts to calculate targets and I have to say I'm no great fan of P&F charts so I have another method of my own that seems to be a good targeting theory. Anyway, I'm a lot less confident of charting something like WZR than say a top 200 stock so its a proof of theory trade for me.
WZR Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
