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Dr. Thomas Carr
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Dr. Thomas K. Carr (aka “Dr Stoxx”) is the Founder of DrStoxx.com (formerly “Befriend the Trend Trading”). He holds M.Phil. and D.Phil. degrees from the University of Oxford. For 16 years he was a tenured professor and department chair. He currently is a fulltime trader, market analyst, trading... More
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  • China Hydroelectric Corp. Pushing Out Of Consolidation 0 comments
    Dec 10, 2013 1:31 PM | about stocks: CHC

    Shares of low-floater, CHC, are pushing up out of an extended triangle consolidation pattern, and appear to be putting in a kind of cup, maybe cup&handle, base from early September. A close over 2.80 should bring the 3.20 resistance pivot into play, representing a gain of 23% from current levels.

    Daily chart (courtesy of Finviz.com):

    (click to enlarge)

    The company is showing rising annual sales volume:

    The recent earnings report wasn't great, but appears to have been hampered by one-off events. I'm still digging deeper here, but have initiated a starter position.

    Disclosure: I am long CHC.

    Additional disclosure: I have a small starter position and may add more on breakout.

    Themes: China stocks Stocks: CHC
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