Mercator Minerals, Ltd. (ML:TO)

I've written about Mercator before when it was in the 2.40 range. Now we stand at the 2.90 range looking for a breakout here. If Mercator can break through the 2.96 level and stay above that, I see the stock breaking out well above the 3.00 mark. See the chart below for more details:



Notice that the uptrend outlined in red is still in good shape. We bounced off it a few days ago which was an extremely good buying opportunity. Anytime we get close to that red trend line, I suggest picking up more shares. The short downtrend outlined in pink was violated yesterday with the nice little upward move. Now if we can break above that previous black hammer candle and close above it, we are in position to move much higher. This one is looking very bullish right now. Watch it closely!