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Message: Falling Wedge Opportunity

So let's talk High River Gold... Not many stocks these days fall into my Falling Scan showing up as oversold, but High River Gold this week. On the daily chart, it's forming a falling wedge and the 200 SMA is not too far away. I might be a little early on this call as the apex of the falling wedge looks about a week away and it also coincides with the long term trend line and 200 SMA.

So for now I would simply put it on your watch list and keep an eye on it.

The prudent play here would be to wait for a breakout of the falling wedge which should be around $1.15 and my first target on it is $1.27 for gains of 10.4%. Second target is at $1.38 for gains of 20% from breakout. The aggressive play would be an entry here with a stop just below support at $1.05.

For chart see here http://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=c167399b56


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