ANE has broken resistance after 5 months of consolidation and retraced back onto support forming a strong base pattern. When coupled with rising lows (arrows) and a bullish MACD / Stochastics relationship a break of $4.45 would project a target of $4.98 - $5.16
FRR is a recovery stock in the making. Note the rising lows and bullish MACD/Stochastics relationship. Couple these chart indicators with FRR having broken resistance (blue line) with a pull back onto support gives us a good entry on a break of $0.805 for a projected target of $0.90 - $0.95.
CELL has broken both its primary and secondary descending trend line (blue) and appears to have put in a double bottom (arrows). A break of $13.86 would suggest a reversal of trend and a initial target of $18.20 - $20.00 is possible with longer term $23.00.
ANDS has consolidated for 4 months to finally break out alerting us to a possible trade. Having pulled back and supported by this very good base pattern ANDS on a break of $5.07 should move quickly up to a projected target and price resistance of around $8.40.
RSP has formed an ascending triangle considered a bullish chart pattern. It has also spent the last 4 months consolidating (bold). With this base pattern in place Chart Chat expects RSP to climb up into resistance of $1.39 - $1.48 on a break of $1.24
We take a look at a weekly chart of IAG to give us a cleaner picture of its likely direction. We can see that IAG has spent the last year consolidating (in bold) and forming a equilateral triangle. IAG has broken to the upside and retraced back onto support giving us a better entry point. A break of $5.86 would project an initial target of $6.30 - $7.00 with a longer term target in the $8.00 region.
GPG has consolidated for 4 months with rising lows creating an ascending triangle considered a bullish base pattern. With volume picking up indicating an increase in buyer support, GPG on a break of $2.19 would project a target of $2.48 - $2.60.
Onesteel Ltd (OST) is poised to break resistance having consolidated for 2 months while maintaining its strong ascending trend with progressive higher lows. A break of $4.44 projects a price target cluster of between $4.70 and $4.90.
