Setting up nicelyI like the Falling Wedge being formed on Africa Oil right now. You need 5 to 7 bounces off the trend lines before you get the breakout to the up side, this formation already has 5 touches to it. Although its not completely oversold yet (slow stochastic brown line still high), I think it would be a good opportunity here as long as it doesn't failed the bottom trend line. If it does break it then we'll most likely see a test of the 200 SMA line which is at $1.63 right now.
So the play would be an entry here around $1.78 with a stop loss of maybe $1.70. First target would be the top of the formation to see if it breaks it at $1.97 (which is also resistance marked by the red line) for gains of 10.6%. Next target would be the measured move from a Falling Wedge formation and in this case it would place Africa Oil at $2.35 for gains of 32%.
See chart and other picks here ...
https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=4764de9dd9#AOI