Not all charts are the same. From the Globe and Mail we get a very good looking triangle with the prerequisite lower highs and higher lows. Stockcharts paints a different picture with higher highs and higher lows. Regardless, it is a 2 to 3 year period of consolidation which normally leads to a “thrust” of sorts and that seems to be exactly what we are getting. In fact, we might be very close to the end of this thrust seeing that we are quite near to the upper trend-line going back almost twenty years. This company invests in so-called clean or green energy projects, solar, wind and so on.
In our opinion, EW based of course, the stock is overvalued particularly when compared to the more traditional forms of energy. A drop to the base of the triangle $12 or $15 should occur in the near future.