What goes around comes around

Some readers might recall my chart analysis of Trico Marine Services/TRMA. Since that post, nothing has changed but 6 weeks of short term base building. And yesterday, TRMA broke out -- above and away -- from that base. Investor's Business Daily reports:

"Trico Marine Services/TRMA leapt 2.63 to 38.69. Trico, which provides support vessels for offshore oil and gas facilities worldwide, said four of its workers were safely released after being abducted from a supply ship off the Niger Delta."

I certainly would not attribute the breakout to the release of the company's abducted employees; I would attribute it to a stock that stairsteps higher: base→breakout→minor uptrend→new base→breakout... etc. Too, note the volume on yesterday's breakout; excellent indeed.

[click on image to enlarge]

This is a beautiful chart with excellent price and volume action, and with bases that recur regularly; the whole only gets better and better. TRMA readily avails itself to pattern analysis -- and profits! -- by the interested investor. But now I repeat myself from the original post.

Remember to thank Ray Seakan; he brought it to our attention.
-- David M Gordon / The Deipnosophist