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China Hydroelectric Corp. Pushing Out Of Consolidation

|Includes:China Hydroelectric Corporation (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):

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.

Stocks: CHC