A lot of action with this stock recently with trading days well over 1 million shares that changed hands. After a nice run from its lows in July, Ucore has posted some impressive gains recently, made a new 52 week high at $0.74 and has pulled a little since. The formation is has now painted is called a Bullish Pennant. Trading the pattern is simple... Keep track of the upper trend line and enter long with the trend line is pierced on a breakout with heavy volume. This would make entry anywhere between $0.60 and $0.65 over the next few days. This makes sense as the indicators are not quite ready to turn upwards and are still falling into the oversold area. However, as I've previously stated in other newsletters, Bullish Pennants have a history of jumping the gun on me! That is, they break out of the formation a few days ahead of when I think they will. So to be on the safe side, I would take a position here for a 'wait and see'... Entry would be at $0.57 and a stop loss at $0.52 (8.7% exposure, which is a bit high). First target on breakout confirmation would be $0.69 at the next resistance line for 21% gains, followed by $0.80 for high gains of 40.3% gains.

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