DMEHF -- Desert Mountain Energy , Ascending Triangle Pattern

In my previous post on DMEHF, I speculated that Desert Mountain Energy would continue sideways until mid Feb. This pattern has changed slightly from a symmetric triangle pattern to an ascending triangle pattern -- we're making higher lows and retesting the line of resistance on the weekly at $1.49. On the daily, the 20 day moving average is starting to creep above the 50 day moving average. Continued bullishness above $1.32 permitting, we might continue to trade along the 20 day moving average.

Something to watch out for are the thinning volumes which might make it vulnerable for the bears to take over.

Trade closed: target reached:

We've shot way past the $1.30's into the big-boys leagues of ~$2.30's! Wonder what more is to come, especially with inflation catching up in earnest notwithstanding the CPI.