Go to the Globe and Mail homepage

Jump to main navigationJump to main content

(iStockphoto / Getty Images)
(iStockphoto / Getty Images)

What the Charts Say

Bullish on Crew Energy Add to ...

Crew Energy Inc. declined from $21.56 in 2011 to $4.88 in 2012 (A-B) and then settled in a large descending triangle formation made up of lower highs and equal lows for more than one year (dotted lines). The recent rise above about $6.50 signaled the breakout from the triangle pattern and the start of a new major up-leg (C). Only a decline below around $6 would be negative.

Point & Figure measurements provide an initial target of $8 (a 15-per-cent appreciation potential from current levels). The large descending triangle pattern (dotted lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow on Twitter: @RonsBriefs

Next story




Most popular videos »

More from The Globe and Mail

Most popular