RH PetroGas - post first talk later

post first talk later.

EDITED ON: 9 Jan 2014

Understand that this analysis came late, but better late than never. At current point of writing, the break out has already happen. For those less risk adverse, you might want to wait for further confirmation and wait for good entry position (check back here, i will post when it happens ;). The analysis, as see from above, another ascending triangle formed from mid Nov'13. there is strong consolidation towards the end of Dec'13. The recent low in stochastic provide good entry position, and stochastic cross-over provided further confirmation of strength. MACD cross over from the center-line shows a bullish crossover, confirmed that uptrend is intact. Centerline crossovers can last a few days or a few months. It all depends on the strength of the trend. The MACD will remain positive as long as there is a sustained uptrend.

Good luck for those that have entered. Near-term TP is $0.70.