I am not sure what to think about EPEX Edge Petroleum yet

epex20080818

EPEX Edge Petroleum needs to get at .50 or higher and stay above the level for me to start thinking we get get a spike higher.  But so far this congestion above the down trendline is not inspiring me that much.  It may be a failed break or a teaser break that may resume into a downtrend for the rest of August.

Volume needs to start coming in strong and again, EPEX needs to see and hold .50 or higher for me to start getting interested.

The positives still exist in that EPEX has a triple bottom and has a wide price swing that tested the previous swing on much higher volume.  See my previous post on EPEX where I detail that a bit.  That volume relationship says to me that EPEX still has a shot at .70 to .80 cents.  BUT the first sign that it has a chance at that level will be a move and break above .50.

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