Although this situation will create a more positive outlook for the short term, with 10 to 20 cents possible upside, the long-term charts indicate a lot of work is required to clear some long standing negative bias. As you have pointed out a crossover of the daily macd(12,26,9) is a definite plus in that this represents a buy signal for some algorithms which will generate some positive buying momentum.

But stepping back from the trees to the multi-year weekly chart reveals a more challenging situation yet to be overcome. On one hand macd(12,26,9) went negative a few weeks back so any meaningful accumulation won't occur until the fast moving component crosses back above the slower one, although this could conceivably happen in a couple of weeks if your bullish flag pattern has a positive outcome.

Also price remains under the weekly ema(200) which acted in part to cap the last rally. Last and most important of all, we remain under a long standing down trendline that has been in effect since 2006 (weekly log chart.) This alone is what put a lid on ECU during the Fall 2010 rally while so many other stocks went for a moonshot. But the flipside is this has built up quite a bit of pent up energy that will be released when this final hurdle is overcome. Only then will ECU be freed from this ugly technical jail sentence to find a more equitable and realistic valuation compared to its peers. In a nutshell, when $1.20-$1.40 resistance is behind us we probably will never return to these levels again, except perhaps breifly after breakout to retest this area as support.