Andalay Solar Inc fka WEST

[dmlabuda]

WEST Weekly/Hourly Chart Analysis - I typically follow 4 time frame charts on every stock I trade. The weekly chart is the BIG picture of where a stock is headed. In my opinion, we have a bottom formation now on the WEST Weekly chart. All of the OB/OS Oscillators are providing Oversold readings and we have a three way Bullish divergence between the Price and the RSI, Stochastics & %R indices. I bought in some time ago and was forced to take profits when the market stalled short of $1.00/share forming the downtrend line you see on the chart (link below). I bought back in again with an average price of about $0.19 when the Weekly Bullish Divergence formed. Right now, on the Hourly Chart (link below) there is a Symmetrical Triangle which in my opinion will break out to the upside very soon now. As you can see on the chart I have plotted an initial target price as forecast by the triangle of approximately $0.3125. That's only a target price but, that would bring the price up above hourly chart resistance and give it an opportunity to run.

Weekly Chart - http://stockcharts.com/h-sc/ui?s=WEST&p=W&b=5&g=0&id=p48864304143&a=240662478&listNum=3

Hourly Chart - http://stockcharts.com/h-sc/ui?s=WEST&p=60&yr=0&mn=1&dy=7&id=p08064964730&a=241880892&listNum=3