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Message: Ascending Triangle

Even though the indicators are almost overbought, I like the Ascending Triangle pattern on Harte Gold and the increase in volume on Friday's close. Not quite considered break out volume, but perhaps accumulation in anticipation of a break out. The apex of the triangle is about a week out and I've been had before where the stock broke out before the apex and I missed the boat! Technical Analysis is not a 100% accurate science.

I would make entry as it move above the red line on the chart (at $0.73) with a stop loss the raising lower trend line. Initial target would be next resistance line at $0.93 (which was set back in 2004) for gains of 27.3%. The next resistance line above $0.93 is at $1.14 and was also set in 2004.

See chart here and other weekly picks here.

Cheers!

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