In our Monday morning Flight Path newsletter, we highlighted Adams Energy as a security that could be well positioned to take advantage of the rotation that we see into the energy sector as well as the ongoing out performance of small caps. As the week draws to a close we see that price is still in its “Go” trend within a consolidation pattern that is testing the...
A corrective structure is unfolding with the upside to 60, before it drops weekly chart
AE appears to have a consolidated symmetric pattern forming. Waiting to see what direction it breaks.
A symmetric pattern is forming. Watching and waiting to see the break direction.
$50 goal looks like obvious resistance area on chart for AE. Rule is: See Trade Pattern, Trade Pattern. Keep trading simple, preparation is 90% of trading, 10% of trading is actual trading itself.