Mirach Energy

This is Mirach Energy. I noticed this counter when I check up the most active stocks for today.

Why do I think this counter is interesting?First of all, this is a pretty young counter with its life began in 2004. It went to its high @0.90 by early 2006 and then striaght to the bottom. Since then it has spent years between 2008 till now on bottom formation delivering a double bottom, then it shot up. in fact its first shot has already surpass the minimum objective of the double bottom. It has since retraced back to the neck line and followed by a second shoot up.

So what should we be expecting of this counter? I am looking at a possible penant (flag)which gives the objective of SGD0.75, I won't be surprise that it will shoot up in a few weeks time.There is definite a resistance @0.90.

For now, it should be retracing back down to take a breather.