JonathanWard
Long

SGY Bull Pennant

NYSE:SGY   STONE ENERGY CORP
34 0 2
SGY             has developed into a in bull pennant, very similar to USOIL             .

Touched support three times (~$9.65) and touched resistance at least twice.

Up into a bull pennant and up out of a bull pennant. Pattern should hold with consolidation over the next two to three weeks (August 29 - September 9, 2016).

Expecting a upwards breakout in general possibly the week of September 12. Will need to watch price and volume to see where it is actually headed.

Considering long position ~$9.65/$9.75.
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