The_Patterns_Guy
Long

$AXU #long #double bottom with #flag #breakout

AMEX:AXU   ALEXCO RESOURCE CORP (CANADA)
This is an interesting find. the stock is one of those silver             stocks that move with the price of silver             . If you scroll up to the monthly screen you can see a very shallow inverse head and shoulders bottom. Then when you scroll back to the daily, there are layered bullish formation in tight formation. This is nice when you find them. We start with an adam and eve double bottom . This adam and eve double bottom is especially nice because of the eve bottom is slightly higher than the adam bottom. That is a hint of a true bottom in price. Then we see nice and tight flag that was generated from a throwback. I know some folks get pissed at throwbacks like this. It bust your stops, but when it confirms as a bull flag it really tells you how much underlying strength exist in the stock. Now fast forward to today. It looks like the stock is forming a nice bull flag again. We can wait for an entry by setting an alert for the price at the top of the bull flag pole. We can set a stop a little below that and then ride it higher.
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