I'm placing Canacol Energy on the watch list for now as it has not yet broken out of the short term downwards trend line but the increase in volume last week seems to be more accumulation than selling of the stock. Yes it did drop from $1.60 to $1.40 but that's hardly a reason to mass exit the stock and the bounce from the support line adds to that thinking. So for now I'm placing it on a watch list with an alert if it closes above the trend line. Alternatively, one could take a position here at $1.52 with a stop loss below the long term upwards trend line which is now above support. First target is the upper resistance line at $1.80 for gains of 18.4%. If it does head north on us and goes for the $1.80 level again, we can probably expect more of it to the $2.00 range. Let's start with this 18% and we'll worry about the other 11% once we get there!

See chart here http://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=710abcf5e8#CNE

Cheers!