Potential breakoutWestern Wind Energy came up on my 5/20 Golden Cross scan and after looking at the chart seeing it had held the 200 SMA, on two recent occasions, I think it has some potential here for a few reasons. First, it has faired well with the recent market carnage and second, it is an alternate energy stock which I believe they will do well given the uncertainties with regards to the Japanese nuclear incident.
Its indicators are in the uncertain zone and is trading with low volume. There's also a Descending Triangle being formed with a possible breakout if it closes above $1.50 on above average volume. This would be the conservative entry point if you want to wait for the confirmation of it. The aggressive entry would be at current share price with a stop loss at or just below the support line of $1.40. First target should place it at the next resistance line of $1.60 for gains of 10.3%, followed by its recent high of $1.73 for gains of 19.3%. Look at the indicators and the length of the candles as it nears the second target looking for a break of the recent high.
See chart and other weekly picks here
https://us1.campaign-archive1.com/?u=4d6d491aea8e01d93d8a1f390&id=0853829514#WND
Cheers!