Opinion on  Evergreen Energy Inc. (EEE)     Sector: Energy  >  Industry: Coal
Falling (bullish) wedge on EEE

We'd entered this one into our model portfolio on Mar 14 in the belief that it was ready to make an attempt at breaking the falling wedge that it has been trading within for the last few months. Price has trickled a little lower since then, but looks like it is only making a retest of the recent lows. If this indeed is the case, and price bounced once again after the retesting - as we expect - a positive divergence will be left on each of RSI and MACD. Such a development will add to the possibility that the stock has hit an intermediate bottom and is ready to move towards the target of 14.0 presented by the large wedge pattern.