After breaking out on huge volume in mid-April, Eagle Rock Energy (EROC) has been consolidating in a narrowing range as it comes to terms with its new price levels. It has successfully held its breakout level on three occasions now, and is approaching the apex of its symmetrical triangle. Aggressive traders can buy in anticipation of a breakout using $10.50-$10.30 or so as a stop while more conservative traders should wait for a confirming breakout on volume out of the triangle.
If you have any questions or comments, feel free to contact me on twitter @stockdarts or in our great chat room if you are a stockguy22 member. If you aren't a member, what are you waiting for?