On one of the board I frequent, I posted a question to its members if they anybody could identify the chart pattern that was developing on ShaMaran Petroleum. I got a variety of answers but nobody could identify it as its not a common chart pattern and is hard to identify. The chart pattern is a Base on Base and is characterized by an increase in price followed by a consolidation period (usually a short one) and then another increase in price followed by another consolidation period. The stock remains bullish as long as it doesn't break the previous box (or rectangle's) high. The closest answer I got was a Darvis Box which indeed it looks like its doing.

The play here would be to wait and see if it breaks the top of the box and goes beyond resistance (which coincidently is also the box's high) at $1.40. So far the measured move of this Base on Base formation is $0.26, so the next target after $1.40 would be $1.66 for gains of 18.5%. Now if you are an aggressive trader, you could take a position now at $1.27 with a stop loss at the top of the last box and potentially realize gains of 30.7% on the same play.

http://us1.campaign-archive1.com/?u=4d6d491aea8e01d93d8a1f390&id=e6fd99c30b#SNM