This is what the bears are trying to stop I follo
Post# of 39368
This is what the bears are trying to stop
I follow a lot of different stocks, especially other penny stock E&P companies. First and foremost so I can have a comparison for TECO and secondly so that I can invest in other up and coming plays.
I want to show you the chart setup of a company on my watch list NOT because I am pitching it, but as an example of what I think is about to happen and what the bears are trying to stuff. Once again I AM NOT endorsing this stock at all. They have had a recent rally but sold ZERO barrels of oil this year and not even a half Boe in nat gas. They lost money big time this year and their liabilities far exceed their assets. However, their chart is a great illustration of the higher low pattern + MACD uptrend + moving average cross over that I am predicting will show a big rally for TECO.
This company, ECCE, put in a low at 4 cents in April of this year, chopped sideways with a slight higher low pattern going into September where it also showed significant support at 10 cents. If you notice the MACD line flattens out and starts to trend up in mid September, finally getting a cross over towards the end of the month. The MACD uptrend continues and price follows. When the MACD crossed the zero line, and there is a combination of closes above the moving averages, watch how it skyrockets up to 44 cents.
This stock is riding a 20 DMA uptrend on a $223,000 year to date loss!!!!! Let me repeat that, this penny stock oil company lost close to a quarter million dollars, sold zero barrels of oil, yet went from 4 cents to 44 cents. The 10 Q was posted on November 7th and they are not expected to sell any oil this year!!!!
If this chart pattern is valid for this money losing operation, I would think that it would be even more valid for a Treaty. This is what the bears are trying to prevent from happening, but my money says that their days are numbered and we will see one of the most fantastic hedge fund blow ups that could drag down some market makers as well.
[IMG]http://i.imgur.com/OtRzi.png[/IMG]
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