Replies to post #8560 on Heartland Oil and Gas (fka HTOG)

[redlobster]

So swanny, you think it's mostly downhill from here?

[alien-IQ]

From what I can see, it's one good volume day away from testing the .015 resistance again. If we get past that, then the next test should be around .021.

But I'll be the first to admit that my charting skills are rudimentary at best...hell, I'm not sure it's even appropriate to call them skills. I still trying to learn.

[Breaking the Bonds]

Fortunately, it doesn't hold up to a head and shoulder pattern because the shoulders don't line up.

Here's a pertinent example of a solid head and shoulders pattern:


Run for your lives!

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But seriously, so far as I'm concerned, the pattern in play here is a bullish ascending triangle and we're in the process of breaking out of it to the upside... or we already have depending on how you draw it. Very bullish. Add to that the positive slope on the still negative CMF and the RSI being below 70.

The last 3 days have had a solid uptrend and you can see the main support is a positively sloped line. All inidcators, so far as I'm concerned, point to a continuing 3 day bullish trend that hasn't even been slightly tested despite day traders locking in profits.