RE: Technically Speaking Agreed Abe - those two targets are very viable. One thing I like about trading is that depending on how we view chart patterns we come up with slightly different targets. This tends to keep the market active. There;s two things more that we could look at here. The May 2011 spike and the Oct 12 high are pretty close. Anyone that bought at May and was caught holding a loss may very well have sold out in Oct, so strong hands should now be the norm after the consolidation. Our mirrors all depend on where you take the continuation to start, whether you use close or low and for this reason my first target is a bit different from yours of 1.30 . One thing to add is the 1.30 target is the fib 1.618 extension of the first move up.
The more important thing here is that this is now in blue sky territory