Saturday, July 26, 2008

DMLP - Pennant Up

DMLP - Nasdaq.  Dorchester Minerals, L.P. has formed a potential Pennant Up following three days of strong rising prices accompanied by large volume.  The best Pennants to trade are often those that form tight and fast following a good breakout.  As is the case with any chart pattern, the volume must expand on the breakout with a decisive closing price above resistance.  Measurable target based on the height of this formation is around the $42.00.



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