ALY Symmetrical Triangle

Allis-Chalmers Energy is setting up a Symmetrical Triangle. This could break to the upside or the downside.  The 50, 100, & 200 SMA are in an uptrend.  Setting an alert or Buy Stop at 7.76 (above the high on 2/3 and 2/4) could be a good entry strategy. Alert or Sell Stop below 7.49 could also work.

 

 

Stock-Chart---ALY-2011-02-07

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