The chart of Aqua America Inc (WTR) looks bullish to me.
It has lost some serious money since climbing past $21 in Nov 09. The falling wedge could be complete and it could be ready to break out to the upside.
From an Elliott Wave Principal perspective, the currently drop seems to complete the wave ii retracement (78.6%) and is projected higher from here. If the primary count proves to be correct, wave iii should go well past $21. That will be something.
For long plays, $15.25 is a good stop loss. A buy stop at $16.45 will be even more surer way to play this cool (sic) chart.
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