TECO breakout in motion possible 7-10 day rally un
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TECO breakout in motion possible 7-10 day rally under way
Well folks it's been a long time coming but we have multiple conditions that indicate that a rally is under way. We have a move off the low on a tangible catalyst (Mitchell 3 and 4). We have a textbook uptrend in place with the price above upward sloping moving averages. We have cyclical timing in our favor, the last rally was in July of 2012 and started on June 29th. We have multiple credible reasons to be optimistic about the stock in the immediate short term via additional wells in W. Texas and news that could break any week now regarding Belize.
The stock is about a half penny away from 3 cents, and it did it on just today's move. Below you will see the 12 month and the year to date daily charts that will put things in perspective. The rallies in this stock usually last around a week to 10 days. However this time around, I think the big difference is that even after the ebb and flow the uptrend should continue.
[IMG]http://i.imgur.com/Tu7xc5N.png[/IMG]
[IMG]http://i.imgur.com/z6vivpB.png[/IMG]
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