ECA, Encana

Speaking of triangles, lookup previous blogs on . This one is big, see chart below;

eca l 2011eca m 2011

This triangle took a lot longer than one might have expected at the time, but it did as expected. It has just about completed the thrust judging by the detailed chart below;

eca s 2011

We could already be at the low, $10 or so would fit even better but who knows if it will get there. Looking at the minute details it looks like there is a diagonal forming as wave 5 of 5 of C. A target of about $15 fits that better then the $10 target if we were to get equality between C and A at about $10. In any case , coming from $100 and only now thinking of buying this stock, gives you an idea of what EW can do.  I would buy somewhere around here and hold for a while. This is all gas, soon it will come back into vogue.