Augusta Resources is forming a Bullish Pennant which should break out (or break down) this week. Volume has been relatively low for the last two or three weeks as expected when forming a Bullish Pennant, so watch for volume to increase as it tries to break the down trend line but be careful, false break outs are common with this formation and often return into the formation the same day or the day after.

As we are nearing the apex of the formation there isn't many days to watch it. To be on the safe side of this play, I would wait for the breakout and a confirmation candle (green candle) once it has moved above the top trend line. This should place your entry around $5.20 with your stop loss being the low trend line, or just below. First target is not all that impressive and is at $5.45 for gains of 4.8% but the second target looks better at $6.10 for gains of 17.3%.

See chart http://us1.campaign-archive1.com/?u=4d6d491aea8e01d93d8a1f390&id=b285737b82#AZC
For other weekly picks see http://www.ta-picks.com/WeeklyPicks.html

Cheers!