Energy Development Corporation (EDC)

In the short-term, EDC is moving sideways with 4.95 as support and 5.2 as resistance. It recently broke its symmetrical triangle resistance at 4.85 to 4.9 and is now hesitating right below its previous high of 5.3. Aside from a symmetrical triangle, EDC also looks like it is forming a bullish ascending triangle formation. A break of 5.2 to 5.3 will confirm this. Symmetrical triangle target is at 5.8 while its ascending triangle points to a target of 6.2. 

Looking at a longer term chart, you can see that EDC's uptrend is intact. Based on support and resistance lines of its upward channel, we can expect resistance at 5.6 and 6.2, which is close to our expected targets. EDC has an all time high of 6.2. Breach that level, and I think we can see a similar move to those stocks which have made their all time highs recently like DMC, URC, AP and AEV. 

Recommendation: Buy

By the way, I'm bullish on the other Lopez stocks as well, namely, FPH and FGEN. You can find my analysis on FPH on the Stock Picks links section at the right. As for FGEN, it is bullishly consolidating at its highs with support and resistance at 10.5 and 11 to 11.25, respectively. 

Caveat!