Replies to post #745 on Escalera Resources Co. (fka ESCRQ)

[Apophis]

Recognia has detected a "Bottom Triangle" chart pattern formed on Escalera Resources Co (ESCR on NASDAQ). This bullish signal indicates that the price may rise from the close of 0.24 to the range of 0.40 - 0.44. The pattern formed over 53 days which is roughly the period of time in which the target price range may be achieved.

Escalera Resources Co has a current support price of 0.22 and a resistance level of 0.25.

A Bottom Triangle/Wedge is considered a bullish signal, marking a possible reversal of the current downtrend. The pattern is formed during a downtrend and shows two trendlines converging. The technical event occurs when the price breaks upward out of the Triangle/Wedge formation and closes above the upper trendline, thereby confirming the pattern.