Higher Low Support continues to hold Connecting t
Post# of 39368
Higher Low Support continues to hold
Connecting the intraday low of TECO from July 28th to the intraday low of October 22nd gives you the trendline on the higher low pattern I have been emphasizing.
Bids continue to stay very thick along that support line as we await the 10 Q. Bears will have to evacuate their position shortly because depending on the timing of the release and the strength of the news, this thing could gap up into a nickel.
Another stock play I was in that is not an oil company, MPIX, had a beautiful higher low pattern that took from June to play out but is now playing out very nicely having traded from as low as trips and is today threatening to touch a penny.
The power of the pattern, especially in the case of heavily short sold/bashed penny stocks, is in it's explosiveness once it is triggered.
[IMG]http://i.imgur.com/punxG.png[/IMG]
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