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Post by gitonwithit on Mar 21, 2005 9:50:40 GMT -5
While trolling for small cap oil producers over the weekend, I came across UHCP. Interesting chart which looks like a symmetrical triangle ready for breakout. Could be I’m wrong and it’s a pennant. Normally one would wait for confirmation of the breakout, but with oil the way it’s looking and the demand increasing, I’m guessing that it’s going to be to the upside.
I might add that it had a bullish macd divergence on the daily chart since about mid Nov 04 although I was unaware of it until yesterday.
Thinly traded but not afraid to hold it for a while. They have received a delisting notice for the sub $1 pps and have until August 29, 2005 to remedy the situation. Do your DD, make your own decisions and good luck!
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Post by gitonwithit on Mar 21, 2005 14:55:02 GMT -5
Good grief! I hope the one person who read this this morning got into it. Just broke resistance at .90, not sure if it will hold or not. Despite my "hold for a while" statement, I couldn't help but take half off of the table at .94 from .63 this morning. Too good to pass up!
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Post by DJF on Mar 24, 2005 20:41:24 GMT -5
A great little charger - but I don't like it when breakouts move below former resistance (in this case $0.90). This could retrace all the way back to $0.65. stockcharts.com/gallery/?uhcpDD as always, DJF
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Post by gitonwithit on Mar 25, 2005 8:50:02 GMT -5
I sold the rest of it next day in premarket. Worries me when something runs like that in one day!
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